2 days agoApple is fined 1.8 billion. This is why.
Periskopi(2 years ago)
(2 years ago)For the first time, the EU has fined the renowned Apple company 1.8 billion euros, due to an investigation into claims it ruled out its music transmission competitors, including Spotificing Technology SA, from its platforms. According to Bloomberg, the European Commission also ordered the California-based company to stop [...]
According to Bloomberg, the European Commission also ordered the California-based company to prevent music transmission applications from reporting users for cheaper bids beyond Apple's App Store. This greater than expected fine is the first Apple has been pronounced by the EU.
After that, shares dropped 1.5% in pre-market trading in New York, while the company has appealed the decision.
For a decade, Apple has abused her dominant market position in the distribution of music transmission applications through App Store”, said EU Antitrust Commission chief Margrethe Vestager.
