Cupertino giant Apple is once again at the risk of facing another charge sheet from European Union (EU) lawmakers, after facing an earlier digital law that led to a $579 million fine earlier this year in April. With the clock running down on that deadline, which elapses next week on June 26, EU officials are prepared to hand the iPhone maker a Digital Markets Act (DMA) ultimatum to allow developers to inform customers of cheaper deals away from the App Store.
Apple could potentially face fresh EU chargesheet: Key details
According to a new Bloomberg report, if Apple fails to comply with this new warning from the EU, then it might attract new fines under the bloc’s Digital Markets Act, which can be as high as 5% of average daily worldwide revenue per day of non-compliance. However, the company could still evade a future escalation if it manages to appease the commission’s fears with an imminent proposal, which could temporarily fix the alleged violations.
A spokesperson for Apple also told the publication that the EU is making it difficult for the company to follow all of its rules, as its regulators keep changing the rules under DMA compliance. The firm added that it is spending hundreds of thousands of hours working to comply with the bloc's ever-changing regulations.
Previously, the EU has imposed expensive penalties against different firms, including a hefty 200 million Euro penalty against Meta Platforms and over $8 billion in fines against Alphabet's Google. However, regarding this lawsuit, a European Commission spokesperson has refused to speculate on the next steps, with Apple getting a week to submit a proposal.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!