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The European Commission is reportedly gearing up to levy a hefty fine of around 500 million euros on tech giant Apple for alleged violations of European Union competition laws. This action comes after music streaming service Spotify lodged a complaint against Apple in 2019, claiming that the company’s App Store rules hinder fair competition.
Apple’s regulations within the App Store prevent companies like Spotify from directly billing their users, compelling them to utilize Apple’s billing system and pay a commission of up to 30%. The European Commission formally charged Apple in 2021, but the investigation was narrowed down last year to focus on whether the tech giant restricted apps from informing users about cheaper subscription options outside of the App Store.
The current probe is mainly centered on Apple’s alleged abuse of its dominant position and imposition of unjust trading conditions concerning its music service subscription policies. If the fine is imposed, it would rank among the largest penalties ever imposed by the EU on a major technology company, with Google having also faced substantial fines in the past.
Although Apple has been fined for antitrust violations in the past, this would mark the tech giant’s first penalty from Brussels. This signifies a significant step in efforts to curb unfair competition practices in the tech industry, potentially setting a precedent for future enforcement actions by the EU against other big tech firms. Stay tuned to ‘Dodo Finance’ for further updates on this developing story.
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