Categories: TechnologyWorld

German antitrust regulator opens door for curbs on Apple

 Germany’s antitrust regulator has opened the door for measures to curb Apple after deciding that the U.S. tech giant’s market dominance makes it worthy of such measures, the body said in a statement on Wednesday.

The Bundeskartellamt regulator has designated Apple a “company of paramount significance for competition across markets”, it said.

“The company is – beginning with its mobile devices such as the iPhone – the operator of a comprehensive digital ecosystem with a high significance for competition not only in Germany, but also in Europe and worldwide,” said Bundeskartellamt President Andreas Mundt.

On the basis of the regulator’s decision, it can target practices “that pose a threat to competition and practices and effectively prevent them”, he added.

Apple said it would continue to work with the cartel office to understand its concerns but that it planned to appeal the decision.

“The (cartel office’s) designation misrepresents the fierce competition Apple faces in Germany, and it discounts the value of a business model that puts user privacy and security at its core,” an Apple spokesperson said in an emailed statement to Reuters.

The German authority has already declared Google parent Alphabet and Facebook owner Meta companies of paramount significance for competition across markets.

Source : Reuters

GLOBAL BUSINESS AND FINANCE MAGAZINE

Recent Posts

Business investment in the era of digital transformation

The weak performance of business investment across the OECD since the Global Financial Crisis holds…

6 days ago

Dollarisation waves: Insights from the BIS international bond database

The US dollar has dominated the international monetary system since the end of Bretton Woods.…

6 days ago

Ten Charts that Explain the Global Waste Crisis

Solid waste is one of the most visible by-products of human prosperity—and one of the…

6 days ago

Investing for tomorrow: long-term investment, economic scale and the green transition

Climate mitigation investment increases with long horizons, economic scale and investor diversity, underscoring long-term capital…

6 days ago

What the war in Iran means for China

China is relatively inured to the Iran conflict, but less external demand could hit its…

6 days ago

Our underappreciated international reserve system

The composition of international reserves is in a constant state of flux. This column identifies…

1 week ago