Apple CEO says U.S. scrutiny 'fair,' but rejects idea company is a monopoly

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Business News News

Apple Inc Chief Executive Tim Cook denied that the company is a monopoly as the U.S. government gears up for a potentially unprecedented probe into whether the iPhone maker and other technology giants are misusing their massive market power.

Cook, speaking in an interview with CBS News that aired on Tuesday, said Apple controlled a moderate share of the market but was not too big, and disagreed with calls from some U.S. politicians that the company be broken up.

On Monday, sources told Reuters said U.S. authorities were preparing to launch what could be a wide-ranging probe with oversight divided between the Federal Trade Commission and the Department of Justice. U.S. officials must still decide whether to open formal investigations. Technology companies have faced increased scrutiny on a range of issues from privacy and their impact in the 2016 election to advertising and their effect on the marketplace.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines