The fine, expected to be around €500 million and likely to be made public as early as next month, is the result of the European Commission’s antitrust investigation. The investigation focused on whether Apple used its platform to prioritize its own services over those of its competitors.
Tech giant Apple Inc. (NASDAQ:AAPL) will be fined by Brussels for the first time for violating EU law related to its music streaming services, according to insiders familiar with the ongoing investigation, the Financial Times reports. It is certain.
The investigation began following a formal complaint filed by music-streaming app Spotify in 2019. Spotify alleged that Apple was restricting apps from informing iPhone users about more cost-effective options for accessing music subscriptions outside the App Store.
The Commission is expected to declare Apple’s actions illegal and a breach of the bloc’s rules ensuring competition in the single market. The tech giant could face allegations of taking advantage of its position and implementing anti-competitive practices against its competitors.
The fine would be one of the largest financial sanctions ever imposed by the EU against major technology companies. The Commission has already fined Google approximately €8 billion over several years, a decision currently being challenged in court.
Although Apple was fined €1.1 billion in France for alleged anti-competitive behavior in 2020, this would be the first time Brussels has fined the company that much for antitrust violations.
The EU action against Apple is set to reignite tensions between Brussels and Big Tech, as companies will be forced to demonstrate compliance with new rules aimed at boosting competition and enabling smaller tech rivals to thrive. There is pressure of.
Apple, which can appeal the ruling in EU courts, has not yet commented on the impending ruling, but previously expressed satisfaction at the charges being dropped and promised to deal with concerns while promoting competition. did.
This content was generated in part with the help of AI tools and was reviewed and published by Benzinga editors.
