Spain’s antitrust regulator has imposed fines worth a total of €194.1 million ($218 million) on Amazon and Apple for colluding to restrict competition on the Amazon website in Spain
The two contracts the companies signed on October 31, 2018, granting Amazon the status of authorized Apple dealer, included anti-competitive clauses that affected the online market for electronic devices in Spain, CNMC, as the watchdog is known, said in a statement Tuesday. Apple was fined €143.6 million and Amazon €50.5 million . The two companies have two months to appeal the decision. Spokespeople from Apple and Amazon separately said their respective companies intended to appeal the fines.
Following the deal between the two tech giants, the prices of Apple devices sold online rose in Spain, it added. “We reject the suggestion made by CNMC that Amazon benefits from excluding sellers from its marketplace, as our business model hinges precisely on the success of the companies selling through Amazon,” the Amazon spokesperson said in an emailed statement. She added that Apple device buyers benefited from the deal, and the number of discounts on iPads and iPhones had increased.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spain fines Apple and Amazon $218 million for elbowing out small retailersAmazon and Apple have been fined a total of $218 million after Spanish regulators say they colluded to box out competitors by favoring sales of Apple products directly from the online retail giant.
Read more »
Spain fines Amazon and Apple for alleged price-fixing | EngadgetSpain has fined Amazon and Apple a total of 194.1 million euros (over $218 million) for antitrust violations.
Read more »
Apple and Amazon Fined $218M By Spain’s Antitrust WatchdogEurope has cracked down on Big Tech companies over allegations of abusing their dominant market positions.
Read more »
Amazon And Apple Blocked Third-Party iPhone Sellers—Driving Up Prices, Spain’s Antitrust Watchdog AllegesTwo of the world’s biggest companies have been accused of colluding to suppress competition in Spain.
Read more »
Here are Tuesday's biggest analyst calls: Apple, Alphabet, Pinterest, Netflix, Amazon, Nvidia & moreHere are Tuesday's biggest calls on Wall Street.
Read more »
Changes made by Apple is making iPhone users switch back to Apple Maps from Google MapsApple Maps used to be so bad that Tim Cook had to issue an apology but people have started liking it now.
Read more »