weather_iconDublin | 10.34 °C | AQI 17
Friday, 15 November, 2024

---Advertisement---

Top News

Apple Fined Over Rs 16,000 Crore In Antitrust Case Against Spotify: Reports

Apple received its first EU antitrust penalty of over $1.95 billion for impeding Spotify and other music streaming services from promoting alternative payment methods outside the App Store. The European Commission cited unfair trading conditions and imposed an additional 1.8 billion euros as a deterrent.

apple
apple

On Monday, Apple faced its inaugural EU antitrust penalty, amounting to Rs 16,167 crore (over $1.95 billion), as per reports. The fine was imposed for obstructing Spotify and other music streaming platforms from informing users about payment alternatives beyond Apple’s App Store. The European Commission’s decision to levy the fine stemmed from a complaint filed by Spotify regarding this constraint and Apple’s imposition of 30% app store fees.

The European Union competition regulator deemed Apple’s restrictions as unfair trading conditions, a relatively novel argument in antitrust cases. This argument echoed the Dutch antitrust agency’s decision against Apple in 2021, particularly concerning dating app providers. Additionally, the EU competition regulator imposed an additional lump sum of 1.8 billion euros as a deterrent to Apple, in addition to the basic fine amount.

---Advertisement---

Also Read: OpenAI Unveils Sora: A Game-Changing AI Text-To-Video Transformer

Apple’s fine, at over $1.95 billion, is significantly less than the 8.25 billion euros Google faced in three previous cases. In a different antitrust investigation, Apple is proposing to open its mobile payment systems to rivals, likely avoiding further penalties as EU regulators seek feedback.

---Advertisement---

The decision to penalize Apple was influenced by the recognition that a significant portion of the harm caused by its actions was non-monetary. However, the regulator did not provide specifics regarding the exact basic amount of the fine.

Also Read: Youtuber Wears Apple Vision Pro For 50 Hours, Reaction Goes Viral

HISTORY

Written By

Aniket Raj


Get Breaking News First and Latest Updates from India and around the world on News24. Follow News24 on Facebook, Twitter.

Related Story

Live News

---Advertisement---


live

Latest LIVE News Trending Today, Real Time Updates

Nov 15, 2024
Latest LIVE News Trending Today, Real Time Updates
  • 09:09 (IST) 15 Nov 2024

    Shiv Sena (UBT) Sanjay Raut Says 'No Mahayuti After November 23'

  • 09:04 (IST) 15 Nov 2024

    Kerala: Sabarimala Temple To Open Today For Mandala Makaravilakku Festival

  • 09:02 (IST) 15 Nov 2024

    Delhi: Smog Envelops The city As Pollution Levels Continue To Remain High

N24 Shorts Logo

SHORTS

Jharkhand Assembly Election 2024
India

Santhal Pargana Becomes Battleground As BJP Pushes Hindutva Agenda In Jharkhand Assembly Election 2024

While campaigning for the Jharkhand Assembly Election 2024, PM Narendra Modi claimed that the tribal population in Santhal Pargana was decreasing because a huge number of Bangladeshis had infiltrated and the infiltration is still going on.

View All Shorts

---Advertisement---

Trending