The European Union (EU) is close to fining Apple Inc with its first antitrust fine, reports highlighted. This is also to be followed by imposing a ban on Apple Store rules which the bloc believes is responsible for standing in the way of competition.
The fine, which is around $539 million, is expected to be announced next month. Reports also suggest that Apple could have been fined as much as 10 percent of its annual global sales.
In 2019, Sweden’s Spotify Technology SA, in its complaint, claimed that it was forced to ramp up its monthly subscription price in order to cover costs that were associated with Apple’s alleged stranglehold on how the App store operated, as cited by reports.
In February 2023, the European Commission, in a formal charge sheet, moved directly towards Apple’s anti-steering rules, where it was highlighted that the conditions were unnecessary and could result in customers experiencing higher prices.
In early 2022, Apple permitted Spotify and other music services to lead their app users to the web in order to sign up for subscriptions. This ignores Apple’s revenue cut of as much as 30 percent. And, this gives consumers more pricing and subscription options.
Here, Spotify did not stay mum and hit back at the technology giant that restrictions were very much in place.
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