Apple was fined 1.1 billion euros by the French antitrust agency

In order to obtain greater profits, some large enterprises use market power to prevent small-scale businesses by manipulating prices, restricting production and supply, colluding bids, and segmenting the market through “exclusive sales” and “setting minimum retail prices”. Anti-competitive behavior will weaken the efficiency and fairness of the market, making consumers lack choice and unable to obtain the reasonable quality of services.

French antitrust agencies have recently imposed an anti-competitive action on Apple Corps with a fine of 1.1 billion euros (approximately $ 1.23 billion). Earlier in February, Apple was fined 25 million euros by the French government for reducing the speed of older iPhones through system updates.

The French government said that Apple was involved in the development of non-competitive rules between its two distributors, which is “anti-competitive behavior.” Of course, the French government did not soften the two distributors of Apple and fined 76.1 million euros and 62.9 million euros respectively.

The chairman of the French Competition Authority said: Apple and its two distributors have controlled the market for Apple products by agreeing not to compete with each other and preventing competition from other distributors.

Via: CNBC