The US Justice Department takes on tech giant Apple in a blockbuster antitrust lawsuit, alleging monopolistic practices in the smartphone market. The lawsuit accuses Apple of exploiting its market power to extract higher fees from consumers and developers. Get all the details and the latest updates on this high-stakes legal battle.
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#USNews #USSuesApple #USvsApple #USA #Apple #USGovernment #SmartphoneMarket #USJusticeDepartment #AppleNews #Oneindia
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NewsTranscript
00:00 "Consumers should not have to pay higher prices because companies break the law.
00:06 We allege that Apple has employed a strategy that relies on exclusionary, anti-competitive
00:11 conduct that hurts both consumers and developers."
00:15 In a significant development, the US Justice Department, along with more than a dozen states,
00:21 has filed a groundbreaking antitrust law against tech giant Apple.
00:26 But in the District of New Jersey, the lawsuit alleges that Apple has exploited its market
00:31 dominance to extract higher fees from consumers, publishers and other entities.
00:37 This lawsuit follows years of criticism directed at Apple's business practices, particularly
00:43 its walled garden approach to hardware and software, which has been accused of slipping
00:48 competition.
00:49 At the heart of the issue is Apple's tight control over its ecosystem, which critics
00:55 argue limits innovation and consumer choice.
00:58 The company's strict regulations and high fees in its App Store have drawn ire from
01:03 developers and businesses alike.
01:06 Apple's own products often enjoy preferential treatment, further cementing its dominance
01:11 in the market.
01:12 In response to the lawsuit, Apple has vehemently denied the allegations, stating that they
01:18 will contest the charges.
01:20 The company argues that the lawsuit could hinder its ability to continue innovating
01:25 and providing consumer-friendly technology, which has been central to its success.
01:30 This legal action comes amid growing scrutiny over Apple's business practices, with similar
01:36 antitrust investigations underway in Europe and other regions.
01:40 Earlier this year, European regulations forced Apple to grant access to its tap-to-pay hardware
01:46 chip, allowing for the development of competing digital wallets.
01:50 However, these regulations are limited to the European Union.
01:55 Critics argue that Apple's 30% fee on transactions made through the App Store is unjustified,
02:01 particularly given its dominant position in the smartphone market.
02:05 This lawsuit represents a significant escalation in the ongoing battle between regulators and
02:10 the tech giant over market dominance and fair competition.
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