Companies Tech

Apple received a billion-dollar fine for manipulating the French market

The French competition watchdog ruled that Apple Group Apple would pay a $ 1.23 billion fine for monopolizing the retail distribution network.

According to CNBC , on March 16, the French Competition Supervision Agency ruled that Apple Group of America paid a fine of US $ 1.23 billion due to the monopoly action of independent retail distribution network.

The accusation from the French Competition Authority said that the iPhone manufacturer has acted to impose prices on retail distributors. This will help make the price of the product at Apple’s store and home page equal to the price at retail distributors.

“Apple and Tech Data and Ingram Micro have agreed on a tacit agreement that they will not compete and accept pricing instead of fair competition. This will leave the retail market of Apple products crippled, ”said Isabelle de Silva, director of the French Competition Monitoring Agency.

Tech Data and Ingram Micro, two retailers colluding with Apple’s exclusive plan, were fined 76 million euros ( 85 million USD ) and 63 million euros ( 70.5 million dollars, respectively ). Neither of these two agents has commented on the decision yet, while Apple has stated it will appeal.

“The Competition Watchdog’s decision leaves us very disappointed. It has eliminated the nearly 30-year-old legislation that all French companies adhere to and will cause chaos for companies of all industries. We absolutely disagree with them and will appeal, ”an Apple representative told CNBC.

The new ruling is also the second time that the French government has fined Apple within a month. In February, the French Consumer Watch Agency announced a fine of 25 million euros for Apple due to a deliberate slowdown on the iPhone two years ago.

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