Apple's 2020 Antitrust Fine Issued by French Watchdog Said to Be Reduced to EUR 372 Million


 

Apple's original fine had been imposed by France's antitrust watchdog in 2020 for the company's anti-competitive behaviour.


According to two sources with knowledge of the case, a French court on Thursday significantly reduced the penalties against iPhone maker Apple for suspected anti-competitive behaviour from EUR 1.1 billion (approximately Rs. 8,800 crore) to EUR 372 million (almost Rs. 3,000 crore).

For what it deemed to be Apple's anti-competitive behaviour toward its distribution and retail network, France's antitrust watchdog had levied the first penalties in 2020.



At the time, it was the largest fine the antitrust regulator had ever imposed. The regulator claimed that Apple had set pricing on retail premium resellers to ensure that they were comparable to those imposed by the California company in its own stores or online.

One of the two sources claimed that the appeals court upheld the antitrust watchdog's claim that Apple had abused the merchants' financial dependence on it but dismissed the fixed-price claim.



According to the same source, it also decreased the length of time covered by the allegation of a purported restriction of the wholesalers' customer.



The source further stated that the court made the decision to considerably reduce the rate used to determine the total fine.



Given Apple's size and financial clout, the French antitrust authority used a high rate in 2020, the person claimed.



Apple declared that it would contest the ruling. The amount of the fine imposed by the court was not mentioned.

The US corporation said in a statement provided to Reuters that it intended to fight the French Competition Authority's ruling, even though the court partially overturned it properly.



The decision refers to procedures that were abandoned more than ten years ago, as acknowledged by the French authority.



Although the court "largely confirmed" the antitrust watchdog's decision, an appeals court representative declined to comment on the specifics of the ruling.

Comments

Post a Comment

Popular posts from this blog

The Sant Goroba Kumbhar Samadhi Temple: A Sacred Shrine of Devotion in Maharashtra

Nestled in the serene village of Ter-Dhoki, near Dharashiv-Osmanabad in Marathwada, Maharashtra, stands the revered Sant Goroba Kumbhar Samadhi Temple. This temple is a testament to the deep devotion and spiritual prowess of Sant Goroba Kumbhar, a revered saint of the Varkari sect who lived during the 13th century. Sant Goroba Kumbhar, affectionately known as Gorobakaka, was a contemporary of revered saints like Namdev and Dnyaneshwar, and his unwavering faith and profound love for Vitthala (Panduranga), a deity worshipped in the form of Lord Krishna, continues to inspire devotees to this day. Born in the year 1189 (1267 AD) according to experts, Sant Goroba Kumbhar was known for his ascetic lifestyle and detachment from worldly affairs. His teachings were highly regarded in the spiritual realm, and he was known to constantly chant the name of Shri Vitthala, with unwavering devotion to the deity. One story that showcases Sant Goroba Kumbhar's deep immersion in devotion is that of h...
Read more

Why crypto asset management makes sense for novice investors

Image
Investing directly in cryptocurrencies can be challenging for most conventional investors because of their complexity, liquidity challenges, and volatility risk. The market for cryptocurrencies is quite unstable. Bitcoin's recent price volatility has seen it fall from grace and then almost immediately rise again. This volatility is a result of market manipulation, business failures, and hacking of investor accounts. However, it's also the very thing that attracts investors hoping for large profits to cryptocurrency. For the majority of traditional investors, investing directly in cryptocurrencies can be difficult because to its complexity, liquidity issues, and volatility risk. A crypto asset management company called Heru Finance specifically seeks to address this. 123Movies is a video streaming website where viewers can watch TV shows and Bollywood or Hollywood films. People can see the most recent films that have been released in HD quality on this website. Nobody else’s st...
Read more

Baywatch: A Lighthearted Take on the Classic TV Series

Baywatch , the iconic TV series that ran from 1989 to 2001, was known for its beautiful beaches, sun-kissed bodies, and thrilling action sequences. The 2017 film adaptation, starring Dwayne Johnson, Zac Efron, and Alexandra Daddario, captures the spirit of the original show while adding a fresh and modern twist. While not without its flaws, Baywatch offers audiences a lighthearted and entertaining romp through the sand and surf of Southern California . The film follows a group of lifeguards who patrol the beaches of Emerald Bay, a picturesque coastal town that is home to the most elite lifeguard team in the world. Dwayne Johnson plays Mitch Buchannon , the no-nonsense leader of the team, who takes newcomer Matt Brody (played by Zac Efron) under his wing. Along with fellow lifeguards Summer (Alexandra Daddario) and CJ (Kelly Rohrbach), they must investigate a criminal plot that threatens the safety of their beach and the people who visit it. Baywatch is a film that doesn't take its...
Read more