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

A network approach to geopolitics

In international affairs, what a country does depends on its own interests and on what…

2 days ago

Repo is the new dollar safe asset

US Treasuries have long been the benchmark dollar safe asset, and the convenience yield they…

2 days ago

AI is writing more research code Who is reviewing it?

AI agents can now write substantial amounts of research code. In a recent self-selected survey,…

2 days ago

Beyond goods and commuting: How transport infrastructure expands service markets

Governments and international organizations collectively invest trillions of dollars each year in transport infrastructure —…

2 days ago

South Asia’s demographic shift is an opportunity—but only if the region acts now

One in five workers worldwide lives in South Asia, where 1.17 billion people are in…

2 days ago

Stablecoins and the macroeconomy: Bank disintermediation versus fiscal space

Stablecoins compete with banks for households’ holdings of safe and liquid assets, while creating additional…

3 days ago