Apple hit with $2 billion EU antitrust fine in Spotify case

Below excerpt article reported by Chee. F. Y. (2024, March 5). Apple hit with $2 billion EU antitrust fine in Spotify case. Reuters

“The European Commission charged Apple last year with preventing Swedish streaming service Spotify (SPOT.N) and others from informing users of payment options outside its App Store, following a 2019 complaint by Spotify.”

“Brussels on Monday fined Apple (AAPL.O) tab 1.84 billion euros ($2 billion) for thwarting competition from music streaming rivals via restrictions on its App Store, the iPhone maker’s first ever penalty for breaching EU rules.”

“Apple shares were down 3.2% at $173.88 on Monday afternoon.”

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