EU Imposes $2 Billion Fine on Apple for App Store Antitrust Violations
The fine marks a significant move in Europe's ongoing efforts to regulate big tech, with Apple accused of using its App Store to limit competition in the music streaming market.
- The European Commission fined Apple $2 billion for using its App Store to stifle competition among music streaming services, following a five-year investigation initiated by Spotify.
- The fine is part of Europe's broader strategy to enforce stricter regulations on tech giants, leveraging the new Digital Markets Act (DMA) to ensure fair competition.
- Apple plans to appeal the decision, arguing that the facts do not support the European Commission's ruling and accusing Spotify of seeking free access to Apple's tools.
- The DMA, which comes into effect on March 6, allows for quicker and more efficient regulation of tech companies, with fines up to 10% of a company's turnover for violating its 22 rules.
- The case highlights a shift in regulatory philosophy in Europe towards ensuring fairness in the digital market, moving away from the Chicago School's consumer welfare doctrine.
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