Apple Inc has taken a bold enough step to stand against the antitrust penalty law of India and incurred a risk of $38 billion in fines. Here’s everything you need to know about the story.
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Apple Inc, one of the most popular smartphone makers in the world, are contesting India’s new antitrust penalty law under which the Cupertino-based tech giant could face up a fine of up to $38 billion, as per a court filing in Delhi High Court, seen by Reuters. This comes as the first challenge against the antitrust penalty law that suggests that the Competition Commission of India (CCI) can use global turnover of a company to calxulate the penalties it imposes on them for abusing their market positioning and dominance.
For those who are unaware, since 2022, Indian startups, Tinder-owner Match and others have been trapped in an antitrust battle with Apple at CCI where the investigators published a report saying the tech giant has engaged in abusive conduct on the apps market of its iPhone Operating System, popularly known as iOS.
As of now, Apple has denied all the wrongdoing and CCI’s final decision is pending in the case that will levy any penalty on the company. The Cupertino giant has asked the judged to declare as the 2024 law illegal that lets the CCI to use global turnover to impose a fine on a company. The company has submitted a 545-page court filing that is not available in public domain currently.