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  • btc = $67 343.00 619.73 (0.93 %)

  • eth = $3 517.57 16.65 (0.48 %)

  • ton = $7.31 -0.03 (-0.40 %)

19 Feb, 2024
1 min time to read

The European Commission is set to levy a hefty fine of about $539 million against tech giant Apple for alleged antitrust violations related to its App Store practices, particularly music streaming services.

The decision is expected to be announced early next month following a complaint filed in 2019 by Spotify.

Sources familiar with the matter, speaking to the Financial Times, revealed that the investigation centers on Apple's imposition of rules prohibiting app developers from directing users to external subscription options, thereby bypassing Apple's 30 percent commission fee.

Although Apple has since relaxed those rules, the Commission is expected to find the company in breach of EU antitrust law, citing the creation of "unfair trading conditions" for competitors due to the App Store's "anti-rule obligations."