Apple significantly reduces French antitrust fines – Strategy

A French court on Thursday slashed the fine against iPhone maker Apple to 372 million euros (A$567 million) from the previous 1.1 billion euros for alleged anti-competitive conduct, according to a person familiar with the matter. a person familiar with the matter told Reuters.

The original fine was imposed in 2020 by the French antitrust watchdog for anti-competitive conduct against Apple’s distribution and retail networks.

At the time, this was the largest fine imposed by antitrust regulators, with Apple charging premium retail resellers prices to match the prices the California company charges in its stores and on the Internet. says.

An appeals court has upheld antitrust watchdog charges that Apple abused retailers’ economic reliance on the company but waived fixed-price charges, one of the two sources said. .

The period of accusations allegedly limiting wholesalers’ customer base has also been shortened, the same sources said.

The court also decided to significantly reduce the rate applied to calculate overall fines, the sources added.

French antitrust authorities were using higher rates in 2020 given Apple’s size and financial strength, the sources said.

Apple said it would appeal the decision. It did not mention the amount of the fine imposed by the court.

“The court has rightly overturned part of the French competition authority’s decision, but we believe it should be overturned entirely and will be appealing,” the company said in a statement sent to Reuters.

“This decision relates to practices that are more than a decade old, and even those recognized (by the French authorities) are no longer in use.”

A spokesperson for the Court of Appeals declined to comment on the exact content of the decision, but confirmed that the court had “partially confirmed” the antitrust watchdog’s decision.

Apple significantly reduces French antitrust fines – Strategy

Source link Apple significantly reduces French antitrust fines – Strategy

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