Apple Inc was on Monday slammed with a fine of €1.1 billion Euros (1.2 billion dollars) by French authorities, for making anti-competitive agreements with two firms in its distribution network.
The authorities said Apple had abused the economic dependence of its premium resellers. The products involved iPads but not iPhones.
Reports have it that the ruling is in response to a complaint by an Apple trader, eBizcuss, in 2012.
“The two firms, Tech Data and Ingram Micro, were hit respectively with fines of 76.1 million Euros and 62.9 million Euros,’’ the French competition authority announced.
Apple did not react immediately to the announcement but had previously rejected the accusations.
1. Agriculture business ideas Agriculture has been rightly promoted as one important channel for our country to bounce back on...
American billionaire investor, Bill Miller has revealed that half of his personal net worth is now invested in bitcoin...
Her name is Nere Teriba, she is young but her determination and ambitions are limitless. At just 36 years...