TECH - Apple Faces Hefty Antitrust Fine From EU Regulators Thanks To Beef With Spotify | Benzinga
The European Union plans to hit Apple Inc (NASDAQ: AAPL) with an antitrust lawsuit over the company’s app store battle with Spotify Technologies (NYSE: SPOT).
What Happened: The suit stems from Spotify’s complaint nearly four years ago that Apple’s app store practices and fees caused Spotify to raise its prices and lose out on customers to Apple’s Apple Music app.
Sweden-based Spotify is Apple Music’s largest competitor. Spotify has more than double the number of global subscribers compared to Apple Music, according to Statista. The EU’s latest ruling against Apple is its latest effort to regulate big tech companies to protect consumers. ...