According to the latest reports, the European Union or EU might issue a hefty fine on tech-giant Apple. This means that the company might be the first ever company to be fined under its Digital Markets Act. This will be because of anti-steering measures imposed by the company in the App Store.
Apple has been already fined $2 billion over allegedly blocking its rivals from promoting potentially cheaper options to Apple music. As reported by Financial Times, the EU has concluded that Apple might not have complied sufficiently. Recent reports have suggested that EU might impose a new fine against Apple.
Even though Apple might be the first company to be fined under the law, there are reports of Meta and Google being investigated. EU has allegedly found that Apple has failed to allow developers to promote alternative offerings without charging fees from them. However, Apple might be able to take corrective measures and then the EU official might reconsider their decision of imposing a fine.
The sources have however said that the announcement of fine might take place in next few weeks. However, the schedule of the fine announcement has not been announced yet. If EU opts to fine Apple over breaking the Digital Markets Act, the fine might be a big thing. If imposed the daily penalties imposed on Apple will be up to 5% of its average daily worldwide turnover. This means that the potential fine can go up to $50 million per day.
