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

71% of surveyed emerging-market firms use AI. How deeply are they adopting it?

Last year, we surveyed firms in emerging markets backed by private equity (PE) and venture…

1 day ago

Rising debt, shrinking buffers: The fiscal challenge facing commodity exporters

For commodity-exporting emerging market and developing economies (EMDEs), recent years have delivered something more unsettling…

1 day ago

Financing the AI boom: Winners and losers in corporate bond markets

The expansion of artificial intelligence has triggered a surge of investment and rising equity values…

1 day ago

Connecting payment systems, linking economies

Several countries are working to interlink their domestic fast payment systems in order to reduce…

1 day ago

At risk or responsive: Rethinking unemployment policy

Public services increasingly use predictive algorithms to direct scarce support towards those most at risk.…

1 day ago

Why downturns can make innovation greener

Green innovation is central for the transition to a low-carbon economy, but there are concerns…

1 day ago