File photo. Image: SIPA USA/PA Images File photo. Image: SIPA USA/PA Images THE UNITED STATES has announced it will begin an antitrust review of major online platforms to determine if they have “stifled” innovation or reduced competition.
“In the face of intense competition, we are proud of our record of continued innovation,” Cohen said. During a recent interview with CBS News, Apple chief executive Tim Cook was adamant that the company was not a monopoly but accepted that it warranted scrutiny due to its size. The US antitrust division is reviewing “whether and how market-leading online platforms have achieved market power and are engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers,” the Justice Department said in a statement.
“Without the discipline of meaningful market-based competition, digital platforms may act in ways that are not responsive to consumer demands,” Assistant Attorney General for the Antitrust Division Makan Delrahim said.US antitrust enforcers have broad authority over companies and can impose fines for violating antitrust law, impose “structural” remedies to allow for more competition or even break them up.
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