NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Dutch regulator rejects Apple’s objections to fines

Published 10/02/2023, 03:56 AM
Updated 10/02/2023, 05:16 AM
© Reuters. FILE PHOTO: A man holds a bag with a new iPhone inside as Apple's new iPhone 15 officially goes on sale across China, next to an Apple Store, in Shanghai, China September 22, 2023. REUTERS/Aly Song/File Photo
AAPL
-

AMSTERDAM (Reuters) -Dutch competition watchdog ACM on Monday said it had rejected objections by Apple (NASDAQ:AAPL) against fines of 50 million euros ($53 million) it gave the company over failure to comply with orders to limit the dominant position of Apple's App Store.

The ACM said Apple has complied with most of its demands to open its App Store to alternative forms of payment for dating apps in the Netherlands, but had not met an undisclosed third element of the conditions related to the fines.

The ACM in 2021 ruled that Apple violated Dutch competition laws in the dating app market and required Apple to allow developers of dating apps to use third-party payment processors.

It fined Apple 5 million euros per week, eventually reaching 50 million euros during the period it failed to comply.

Apple objected to these fines, saying that the regulator had incorrectly defined relevant markets and had overestimated the dominance of Apple's position in the dating app market.

The regulator rejected all of Apple's objections in a decision dated July 13, 2023, which was published on Monday.

"We disagree with the ACM’s original order, which degrades investment incentives and is not in the best interests of our users’ privacy or data security," Apple said in a response.

"As the ACM has denied our administrative appeal, we will appeal to the Netherlands courts.”

© Reuters. FILE PHOTO: A man holds a bag with a new iPhone inside as Apple's new iPhone 15 officially goes on sale across China, next to an Apple Store, in Shanghai, China September 22, 2023. REUTERS/Aly Song/File Photo

The ACM said it would publish the still-undisclosed part of the proceedings objected to by Apple if it won in court.

($1 = 0.9454 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.