Italian antitrust watchdog fines Amazon and Apple €200m

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 66 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 63%

South Africa Headlines News

Companies say fines are unjustified as use of selected resellers is to stamp out counterfeit sales

Milan — Italy’s antitrust authority has fined US tech giants Amazon.com and Apple a total of more than €200m for alleged anticompetitive co-operation 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.it, the watchdog said, adding that this was in violation of EU rules and affected competition on prices.The authority imposed a fine of €68.7m on Amazon and €134.5m on Apple, ordering the companies to end the restrictions to give retailers of genuine Apple and Beats products access to Amazon it in a non-discriminatory manner.

“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,” Apple said, denying any wrongdoing. In a separate statement Amazon said it strongly disagreed with the decision of the Italian authority and that the proposed fine was “disproportionate and unjustified”.

“We reject the suggestion that Amazon benefits by excluding sellers from our store, since our business model relies on their success. As a result of the agreement, Italian customers can find the latest Apple and Beats products on our store, benefiting from a catalogue that more than doubled, with better deals and faster shipping,” Amazon said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Italy hits Amazon, Apple with 200m euro antitrust fineItaly's competition watchdog imposed fines totalling 200 million euros on Amazon and Apple in the latest action taken against US tech giants in Europe. That's peanuts to those companies!
Source: eNCA - 🏆 49. / 51 Read more »

Italy hits Amazon, Apple with 200m euro antitrust fineItaly's competition watchdog imposed fines totalling 200 million euros on Amazon and Apple in the latest action taken against US tech giants in Europe. That's peanuts to those companies!
Source: eNCA - 🏆 49. / 51 Read more »

Total and Eni ready to invest in LibyaFrench and Italian energy firms line up partnership with nation holding Africa’s biggest oil reserves
Source: BDliveSA - 🏆 12. / 63 Read more »

Austrians in Covid-19 lockdown again as mandatory vaccination loomsOnce the vaccine mandate is implemented, fines for Austrians unwilling to take a shot could reach €3,600 and €1,500 in the case of booster shots
Source: BDliveSA - 🏆 12. / 63 Read more »

PARMY OLSON: Can Big Tech fix our culture of overwork?Microsoft, Apple are expanding tools to disconnect from work, and more people are taking advantage of them.
Source: BDliveSA - 🏆 12. / 63 Read more »

'We faced an existential crisis and customers hated us': CEO Sipho Maseko on Telkom's evolution | Fin24Outgoing Telkom Chief Executive Sipho Maseko recalled that as the company endured poor performance, its relationship with the government and industry regulators was broken and it faced hefty fines from the Competition Commission. | Fin24
Source: News24 - 🏆 4. / 80 Read more »