The Technology section is published with the support of Favbet Tech
The US Department of Justice filed a lawsuit against the iPhone manufacturer with accusations of violating antitrust rules , and the EU is preparing an investigation into non-compliance with the Digital Markets Act.
As Bloomberg notes, Apple shares fell 4.1% on Thursday, reducing the company's market value by about $113 billion. At the beginning of 2024, the iPhone maker had the status of the most valuable company in the world with a capitalization above $3 trillion.
Apple is not the first to come to the attention of regulators – it has been accused for years of enriching itself by suppressing competitors. However, the company has become more and more popular over the years, so the authorities are becoming more aggressive and wary of its power.
The US lawsuit, filed Thursday in federal court in New Jersey, accuses Apple of blocking competitors' access to hardware and software features on its devices. Potential investigations in Europe will focus on the company's new fees, terms and conditions for alternative app store developers.
Apple responded to the US lawsuit, calling it “flawed as a matter of fact and law” and vowing to “defend itself vigorously.”
The US lawsuit alleges that Apple used its power over the distribution of software on iPhones to stymie innovations that would make it easier for consumers to customize their phones. According to the Justice Department, the company stopped supporting cross-platform messaging apps, restricted third-party digital wallets and smartwatches, and blocked mobile cloud streaming services.
QA Manual Course (PZ manual testing). Learn how to find solutions and control the content of websites and add-ons. Sign up for a course
The EU Digital Markets Act, which contains a series of bans on some of the world's largest technology platforms, allows them to impose significant fines of up to 10% of a company's total annual global revenue and up to 20% for companies that repeatedly break the rules. After launching official investigations into Apple and Alphabet, regulators promised to provide their final decisions within 12 months.
Apple just recently received a nearly $2 billion fine from the EU over Spotify's complaint that it was blocking the ability of third-party music streaming programs to inform users of cheaper offers.
The Technology section is published with the support of Favbet Tech
Favbet Tech is IT a company with 100% Ukrainian DNA, which creates perfect services for iGaming and Betting using advanced technologies and provides access to them. Favbet Tech develops innovative software through a complex multi-component platform that can withstand enormous loads and create a unique experience for players. The IT company is part of the FAVBET group of companies.
The competition for ITS authors continues. Write an article about the development of games, gaming and gaming devices and win a professional gaming wheel Logitech G923 Racing Wheel, or one of the low-profile gaming keyboards Logitech G815 LIGHTSYNC RGB Mechanical Gaming Keyboard!