Brief by Shorts91 Newsdesk / 03:50pm on 04 Mar 2024,Monday Business
Apple faces a £1.5bn fine from the EU for favoring its own music streaming service, causing iPhone and iPad users to pay higher prices for subscriptions. The European Commission revealed that Apple withheld information about cheaper alternatives for over a decade. The penalty follows a complaint by Spotify, leading to a five-year investigation. Apple is accused of abusing its dominant position, preventing app developers from informing users about cost-effective subscription options. In response, Apple pledges to allow European iPhone users access to alternative app stores and payment systems. The fine, though significant, accounts for only 0.5% of Apple's global revenue.
