Apple faces $2 billion fine from EU
By MYBRANDBOOK
For antitrust infractions, the European Commission fined Apple more than 1.8 billion euros (about Rs 16583 crore), the first time the tech giant has ever faced penalties. Apple was found to have violated fair competition laws by preventing Spotify and other music streaming services from alerting customers about other payment options besides the App Store.
The European Union competition enforcer said Apple's restrictions constituted unfair trading conditions, a relatively novel argument in an antitrust case and also used by the Dutch antitrust agency in a decision against Apple in 2021 in a case brought by dating app providers.
The EU competition enforcer said it added an additional lump sum of 1.8 billion euros to the basic amount as a deterrent to Apple and because a significant part of the harm caused by Apple's conduct was non-monetary. It did not say what the basic amount was.
""For a decade, Apple abused its dominant position in the market for the distribution of music streaming apps through the App Store," EU antitrust chief Margrethe Vestager said in a statement.
Apple criticised the EU decision, saying it would challenge it in court.
"The decision was reached despite the Commission's failure to uncover any credible evidence of consumer harm, and ignores the realities of a market that is thriving, competitive, and growing fast," the company said in a statement.
"The primary advocate for this decision - and the biggest beneficiary - is Spotify, a company based in Stockholm, Sweden. Spotify has the largest music streaming app in the world, and has met with the European Commission more than 65 times during this investigation," it said.
It said the Swedish company pays no commission to Apple as it sells its subscriptions on its website and not on Apple's App Store.
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
EXIDE INDUSTRIES LTD.
POLYCAB INDIA PVT. LTD.
TALLY SOLUTIONS PVT. LTD.
TAC SECURITY SOLUTIONS
Technology Icons Of India 2023: Dr. Sanjay Bahl
Sanjay Bahl is currently with the Indian Computer Emergency Response T...
Technology Icons Of India 2023: Aalok Kumar
Aalok continues to lead the India business and further strengthen Indi...
Technology Icons Of India 2023: Shailender Kumar
Shailender Kumar is senior vice president and regional managing direct...
DRDO is India's largest and most diverse research organisation
DRDO is the R&D wing of Ministry of Defence, Govt of India, with a vis...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
EESL encouraging e-mobility adoption across India
Energy Efficiency Services Limited (EESL) is a Super Energy Service Co...
INTEGRA MICRO SYSTEMS PVT. LTD.
Integra is a leading provider of innovative hi-technology products an...
ACCERON INFOSOL PVT. LTD.
It is a leading value added distributor in the IT security space and h...
ADITYA INFOTECH LTD.
Aditya Infotech Ltd. (AIL) – the technology arm of Aditya Group, is ...