The Italian Competition Authority has imposed a 98,635,416.67 euro fine on Apple (AAPL) Inc., Apple Distribution International Ltd and Apple Italia S.r.l. for abuse of a dominant position. Apple breached article 102 of the TFEU in the market for the supply to developers of platforms for the online distribution of apps to iOS users. In this market, Apple holds a super-dominant position through its App Store, the regulator said in a statement.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- Apple Stock (AAPL) Price Forecast: Top Analyst Predicts $350 Target by 2026
- Apple, Google warns visa employees to not leave U.S., BI reports
- Apple Stock Outlook Heats Up as New iPhones Loom
- Intel Stock (NASDAQ:INTC) Jumps as Nvidia Deal Gets Green Light
- Now Streaming: Warner Bros. urges shareholders to reject Paramount bid