This is AI generated summarization, which may have errors. For context, always refer to the full article.Dado Ruvic/ReutersApple announces the changes to comply with the European Union's Digital Markets Act, which kicked in last week. The changes could dent the high profit margins and steady stream of revenue Apple has come to rely on from its App store.
The changes, which affect only the European Union, come amid continuing criticism from rivals that Apple’s compliance efforts are falling short. Developers must still meet terms and conditions set by Apple and be authorized developers. Apple has also introduced a “core technology fee” of 50 euro cents per user account each year, even if developers opt not to use Apple’s App Store or payment system.
The opening in Europe of Apple’s ecosystem, which the company has long guarded as a highly profitable “walled garden,” comes at a sensitive time for the tech giant.
Source: Financial Digest (financialdigest.net)