TECH - Apple Hit With A $1.95B Fine In EU In Spotify Antitrust Case | Benzinga
In a landmark ruling, Apple Inc. (NASDAQ:AAPL) has been slapped with an unprecedented EU antitrust fine of €1.8 billion ($1.95 billion) for its restrictive practices against Spotify Technology SA (NYSE:SPOT) and other music streaming services.
What Happened: The European Commission has imposed a hefty fine on Apple for preventing Spotify and other music streaming services from informing users about payment options outside its App Store, reported Reuters.
The decision stems from a 2019 complaint by Spotify concerning Apple’s 30% App Store fees and associated restrictions.
The EU competition watchdog deemed Apple’s restrictions as unfair trading conditions, a relatively new argument in an antitrust case.
The watchdog also added an additional €1.8 billion to the basic fine amount ...