Apple In Trouble As Spotify Chief Canvasses EU To Heighten Regulatory Action Against The iPhone Maker
  • Spotify Technology S.A. SPOT founder Daniel Ek exploited a rare visit to Brussels to apply personal pressure on the European Commission to accelerate the case against Apple Inc’s AAPL practices, the Financial Times reports.
  • Daniel Ek reportedly spoke with competition commissioner Margrethe Vestager regarding Apple’s “anti-competitive conduct,” citing other regulators’ harsh actions, including in Japan, the Netherlands, and South Korea.
  • Also Read: Apple In Legal Crosshairs Yet Again Over App Store Fees — This Time From French App Developers
  • Ek said he hoped his visit would speed the probe against Apple, which has taken almost four years.
  • Spotify complained against Apple to the European regulators in 2019, claiming Apple was taking a 30% commission for featuring it in the App Store and denying other upgrading options. The commission has formally charged Apple this year.
  • Companies often complain that antitrust probes against Big Techs achieve too little and come too late for industry competition to benefit from any action. 
  • According to Senator Amy Klobuchar, an “incredible onslaught of money” against a landmark antitrust bill to check the power of the U.S. Big Tech companies hindered the passing of the legislation.
  • The U.S. slapped a class-action antitrust lawsuit against Apple for illegally profiting from payment card issuers through its Apple Pay policies.
  • Price Action: SPOT shares closed at $105.86 on Wednesday.
  • Photo by Photo Mix from Pixabay

Source link

Leave a Reply