EU to impose $538 million fine on Apple for music streaming violation
2 Min Read
The European Union is poised to impose a landmark fine of $538.8 million on Apple for allegedly violating the bloc's regulations concerning access to music streaming services.
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Customers walk past a huge Apple logo at the new store which is located on two floors linked by a glass spiral staircase in Hong Kong’s upscale International Financial Center Mall, September 24, 2011. (AP)
The European Union is reportedly planning to levy a historic fine of 500 million euros ($538.8 million) against US tech giant Apple for breaching the bloc's regulations related to access to music streaming services. This information comes from sources familiar with the matter, as reported by the Financial Times on Sunday.
The European Commission initiated an antitrust investigation to examine whether Apple utilized its platform to prioritize its services at the expense of competitors, prompted by a formal complaint filed by audio streaming company Spotify in 2019, as per the newspaper's report.
The European Commission recognized Apple's conduct as unlawful and in violation of the European Union's regulations aimed at enhancing competition in the market, according to sources as cited by The Financial Times. It has been reported that Brussels will accuse the tech giant of abusing its dominant position and implementing anti-competitive business practices against its rivals.
Sources have also indicated that the European Union will also focus on Apple's strategy of hindering music services, preventing users from switching to more cost-effective alternatives.
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