Apple will allow third-party app stores on iOS in Europe

Apple Inc. is preparing for European Union requirements coming in 2024.

Bloomberg reports that changes are necessary for Apple to comply with stringent new EU laws that provide for "improving the lives of mobile device consumers." Apple is actively working to make key elements of its platforms open to third-party developers, allowing users to download apps bypassing the App Store, sources said.

The changes should take effect as early as iOS 17 next year. So far, Apple is going to ease its restrictions only for Europe. If similar laws are adopted in other countries, the company will be able to quickly respond to them. In light of the news, stocks in some companies — Spotify, for example — have surged and will no longer be dependent on Apple's 30% commission.

For protecting users from the aforementioned risks of sideloading, Apple is considering implementing security requirements such as verification. The company can charge that process in lieu of collecting money from app sales.

A new European law, dubbed the "Digital Markets Act", will come into force in the coming months, but it won't be enforceable until 2024. The law requires companies to be able to install apps from third-party sources and easily change default settings. The new law also requires messaging apps to work without any restrictions from platform owners. It targets companies with a market value of at least 75 billion euros ($80 billion), whose products are used by at least 45 million EU users per month.

Apple has previously criticized the law, arguing that downloading apps from outside the App Store could harm users by not being able to check them for potential threats. And, according to the corporation, this will ultimately have a negative impact on user privacy.