Apple to be Fined over €500 Million Under EU Antitrust Law

Apple to be Fined over $500 Million Under EU Antitrust Law

Reports from the Financial Times suggest that the European Union is gearing up to levy a hefty fine of around €500 million ($539 million) against tech giant Apple over alleged breaches of EU competition law. The fine is expected to be officially announced in the coming weeks.

The European Commission, following a complaint filed by Spotify in 2019, has been investigating Apple’s business practices concerning its App Store rules. These rules, initially criticized for restricting developers from directing users to cheaper subscription options outside the app, were later relaxed by Apple.

According to sources, the Commission is likely to accuse Apple of violating EU antitrust laws and creating unfair conditions for competitors in the digital marketplace. Apple, however, remains tight-lipped, with a representative stating that they do not comment on speculation.

Spotify has yet to respond as of press time.

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