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Apple’s troubles in the European Union are far from over, despite being slapped with the third-largest antitrust fine ever.
The EU will restrict the behavior of technology giants such as Apple, Google, Amazon and Facebook through the Digital Markets Act. The bill will enforce strict codes of conduct or face hefty fines.
This regulatory trend has also attracted attention in other countries, including Japan, South Korea and the United Kingdom. Apple has been fined 1.8 billion euros and will face increased scrutiny. The bill provides for fines of up to 10% of global annual gross revenue for non-compliant companies.
The changes could trigger lengthy litigation, but EU regulations are already starting to have an impact, with big tech companies also challenging the bill through the courts.
(Source: Bloomberg Image source: unsplash)
