Apple reportedly faces its first EU antitrust fine
Source: Business Insider
Feb 19, 2024, 7:17 AM EST
Apple is expected to be fined by the European Union for the first time, according to reports by the Financial Times and Bloomberg. The EU is set to impose a penalty of about 500 million euros ($539 million) in early March, the FT reported.
It will reportedly find that Apple’s actions to stop rival music streaming services from telling users about cheaper options outside its App Store breached EU competition rules. The EU is expected to find that Apple placed “unfair trading conditions” on rivals to its Apple Music service, per the reports.
The body began investigating Apple after Spotify lodged a complaint in 2019. The streaming company claimed Apple’s App Store rules “purposely limit choice and stifle innovation” by imposing a 30% commission on app developers.
Last month Apple announced changes in the EU in a bid to comply with the Digital Markets Act, a law intended to limit tech giants' dominance in the digital economy.
Read more: https://www.businessinsider.com/apple-european-union-faces-fine-antitrust-app-store-spotify-2024-2
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