France's antitrust watchdog just fined Apple $1.2 billion for anti-competitive behaviour - Business Insider

Apple on Monday got slapped with a 1.1 billion euro fine from France's antitrust watchdog.

The watchdog said Apple indulged in anti-competitive behavior in its distribution network, and abused economic dependence on its resellers.Visit Business Insider's homepage for more storiesFrance's competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros for anti-competitive behaviour in its distribution network and an abuse of economic dependence on its resellers.

Two of Apple's wholesalers, Tech Data and Ingram Micro, were fined 63 million euros and 76 million euros respectively, for unlawfully agreeing on prices, the authority said. "Apple and its two wholesalers have agreed not to compete with each other and to prevent distributors from competing with each other, thereby sterilising the wholesale market for Apple products," it said

Next Breaking News: The End of Big Industry Monopolies GREED. Service providers are next.

these mofos made our phones slow to make us buy a new version every year. I have all i phones from iphone 3 till iphone 8 and I stopped buying. Thang God they are fined! but how do we get the money back

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple Store closures may signal what's to come as coronavirus spreads - Business InsiderApple's reliance on China has meant it's been preparing for a worst-case scenario far earlier than other companies. Its decision to close stores globally may be a sign of what's to come. Let me play the worlds tiniest violin for Apple. coronavirus It’s kinda already come! Yay!
Source: BusinessInsider - 🏆 729. / 51 Read more »