EU Hits Apple With Massive $2 Billion Antitrust Fine

The European Union announced a historic and massive fine on Apple Inc, today for allegedly breaking the EU’s ‘competition laws.’ The U.S. tech company was fined this morning, with regulators announcing a massive fine.

Apple will reportedly be forced to pay nearly $2 Billion, or $1.8 Billion Euros. There has been a yearlong investigation into Apple’s app-store conducted by the EU, which has resulted in this fine.

Specifically, the EU claims that Apple failed to tell users that there were alternative ways to subscribe to music-streaming services. Apple allegedly forced users into keeping quiet about alternative ways to subscribe to their service that ultimately would have been cheaper, but excluded Apple.

Apple Inc, which is worth an estimated $2.77 Trillion should have no problem paying this fine, as the tech giant is one of the largest companies in the entire world. Furthermore, Apple’s real influence and power across the world is unmatched.

Most people live on their Apple iPhones, meaning that Apple is in control of the devices that people spend a majority of their time looking at. It’s a level of power that has seldom been seen, if ever in human history before.

The Wall Street Journal reports on this historic fine,

The European Commission said a yearslong investigation into Apple’s app-store practices found the company violated the bloc’s antitrust rules. Apple was fined almost $2 billion by European Union regulators for setting what the bloc deems to be unfair rules for developers of music-streaming apps, in what could be a wider battle between the EU’s antitrust watchdog and the tech giant.

The European Commission, the EU’s executive body, said Monday that a yearslong investigation into the iPhone maker’s app-store practices found the company violated the bloc’s antitrust rules by restricting app developers from telling users about alternative ways to subscribe to music-streaming services. The commission said it ordered Apple to remove the provisions that prevent developers from telling users about other ways to subscribe.

Wall Street Journal

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