Happenings
Divisions
Performances
Happenings
Divisions
Performances
Apple, Google, and Meta are some of the initial tech firms to be scrutinized under the EU's fresh Digital Markets Act
The European Commission is all set to scrutinize Google, Meta, Apple, and several other tech firms to determine their compliance with the newly introduced Digital Markets Act. If found non-compliant, these companies might have to pay a penalty amounting to 10% of their worldwide earnings.
The European Union (EU) is preparing to initiate inquiries into a number of technology companies, such as Google, Meta and Apple, to verify their compliance with new regulations designed to limit the power of Big Tech. If these companies are found to be non-compliant, they could face substantial penalties that could have a major impact.
Insiders have disclosed that the European Commission is getting ready to launch investigations into both firms under the EU's Digital Markets Act in the near future.
The investigations will primarily target the newly implemented charges, rules, and regulations established by Apple and Google for app developers on their individual app platforms, as per the unidentified insiders.
There is conjecture that Meta Platforms Inc., the umbrella company for Facebook and Instagram, may face examination under the EU's enhanced regulatory authorities for its idea to levy a subscription charge for ad-free access to these platforms.
The heightened examination from the EU aligns with the lawsuit filed against Apple by the US Department of Justice and attorneys general from 16 states.
A lawsuit was lodged against Apple on Thursday, accusing it of antitrust breaches by obstructing competitors' access to its device's hardware and software functionalities. This led to a drop in Apple's stock value by a maximum of 3.8% during Thursday's trade, while Alphabet also saw a decline of up to 1.2%.
The Digital Markets Act grants the EU the authority to levy substantial sanctions, such as charging companies up to 10% of their overall yearly worldwide income, and twice as much for constant breaches. The regulatory bodies strive to complete their examinations within a year from the commencement of official investigations.
Neither the European Commission nor Meta have made any statements regarding the issue, and Apple and Google have not yet replied to inquiries for their views.
Apple was recently hit with a €1.8 billion ($2 billion) penalty by the European Union for preventing music streaming applications from notifying users of more affordable options. The tech giant has been under increased observation following the complete enforcement of the Digital Markets Act on March 7th.
Spotify has voiced criticism against Apple's proposed alterations in line with the Digital Markets Act. This comes as a continuation of Spotify's initial grievance against Apple over their App Store policies. Spotify has described the new charges proposed by Apple as "unacceptable" and "illogical." To address these issues, Spotify has sought an appointment with Margrethe Vestager, the EU's competition head. Apple's suggestion to scrap the traditional 30% commission and introduce fresh charges has been viewed as a contentious move by industry experts.
Search for us on YouTube
Highlighted Programs
Connected Articles
EU chiefs hustling to secure funds for the overwhelmed Ukraine | Three potential solutions being explored
Apple's business heavily depends on China, states CEO Tim Cook, promising additional investment
Apple devoted three years to create an Apple Watch for Android users, but halted due to "technical hurdles"
Overview: A myriad of legal disputes chipping away at Apple
EU chiefs hustling to secure funds for the overwhelmed Ukraine | Three potential solutions being explored
Apple's business heavily depends on China, states CEO Tim Cook, promising additional investment
Apple devoted three years to create an Apple Watch for Android users, but halted due to "technical hurdles"
Overview: A myriad of legal disputes chipping away at Apple
can be found on YouTube
Firstpost holds all rights and protections under copyright law as of 2024
+ There are no comments
Add yours