Apple is set to be fined by the European Union's antitrust regulators under the bloc's landmark rules aimed at reining in the power of Big Tech, making it the first company to be sanctioned, sources with direct knowledge of the matter said on Tuesday (Nov 5).
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00:00Apple is set to be the first company fined under new EU rules aimed at reigning in the
00:06power of big tech.
00:08That's according to sources with direct knowledge of the matter on Tuesday.
00:12EU regulators charged in June that the iPhone maker had breached the bloc's tech rules.
00:16The charge against Apple was the first under the EU's Digital Markets Act, or DMA, which
00:21came into force earlier this year.
00:24Bloomberg reported on Tuesday that Apple was found to have failed to allow app developers
00:28to steer users to cheaper deals and offers outside of the App Store.
00:32The Reuters sources said the fine is likely to come this month, although the timing could
00:36still change.
00:37DMA violations could result in a fine of as much as 10 percent of a company's global
00:42annual turnover.
00:44Apple declined to comment, while the European Commission did not immediately respond to
00:48a Reuters request for comment.
00:50The new penalty comes just months after Brussels fined Apple over $2 billion for thwarting
00:55competition from music streaming rivals via App Store restrictions.
00:59Apple also lost a long-running court battle with the EU in September.
01:03That resulted in the company being forced to pay over $14 billion in back taxes to Ireland.