The French court today significantly reduced Apple's fine, which was previously charged with anti-competitive practices, with an initial penalty of US 1.1 billion and now reduced to US$372 million, reports Reuters with reference to his own sources.
The fine was imposed by the French anti-monopoly services in 2020: Apple was accused of anticompetitive action against its distributors and retailers. According to the regulator, the manufacturer interfered with the price policy of the companies selling its products and forced them to bring the price tags into line with what it installed in its retail and online shops.
The Paris Court of Appeal reduced the fine because Apple dropped one of the three main charges related to the price conspiracy, claiming Reuters' source, and the Court decided to reduce the rate substantially, which was applied to the calculation of the total fine: given Apple's scope of activity and financial power, the competition regulator applied a high rate in 2020.
Apple, who as early as 2020 intended to appeal the fine, has not yet commented.