Amazon, Apple Handed EUR 200 Million Italian Fine for Alleged Collusion in Product Sales

Internet

Products You May Like

Italy’s antitrust authority has fined US tech giants Amazon and Apple a total of more than EUR 200 million (roughly Rs. 1,675 crore) for alleged anti-competitive cooperation in the sale of Apple and Beats products.

Contractual provisions of a 2018 agreement between the companies meant only selected resellers were allowed to sell Apple and Beats products on Amazon, the competition watchdog said, adding that this was in violation of European Union rules.

The authority imposed a fine of EUR 68.7 million (roughly Rs. 575 crore) on Amazon and EUR 134.5 million (roughly Rs. 1,130 crore) on Apple, ordering the companies to end the restrictions to give retailers of genuine Apple and Beats products access to Amazon in a non-discriminatory manner.

Apple denied any wrongdoing and said it plans to appeal against the fine.

“To ensure our customers purchase genuine products, we work closely with our reseller partners and have dedicated teams of experts around the world who work with law enforcement, customs and merchants to ensure only genuine Apple products are being sold,” it said.

An Amazon representative could not be reached for immediate comment.

© Thomson Reuters 2021


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Soundcore Life Q30, Life Q35 Headphones Launched With ANC support, 60-Hour Battery Life: Price, Features

Related Stories

Products You May Like

Articles You May Like

Threat Prevention & Detection in SaaS Environments – 101
Realme Watch S2 India Launch Date Set for July 30; Retail Box Leaks Online
Ethereum co-founder warns against voting only on ‘pro-crypto,’ a day after a16z founders support Trump
iQoo Z9 Turbo+ Launch Timeline Leaked, Key Specifications Including MediaTek Dimensity 9300+ Chipset Tipped
iOS 18, iPadOS 18 Public Beta Released: How to Install, Features, More

Leave a Reply

Your email address will not be published. Required fields are marked *