European Union regulators have accused Apple of violating stringent new digital competition regulations that prohibit app developers from directing consumers to cheaper services without restrictions. The preliminary findings by the European Commission are part of an investigation initiated earlier this year. According to the EU’s executive arm, if proven guilty, Apple could potentially face fines amounting to up to 10% of its annual global revenue of $383 billion. This penalty could escalate to 20% if the company repeats the offense, the Commission stated in a Monday announcement.
In March, the European Commission disclosed it had commenced inquiries into Apple, along with Google and Meta, over suspicions that these tech giants were failing to comply with the EU’s groundbreaking Digital Markets Act.
