23 Nov 2021
Italy’s Antitrust Watchdog Fines Apple and Amazon over 200 Million Euros
The Index Today
Amazon and Apple Inc. have been fined 200 million euros by Italy’s antitrust authority for participating in anti-competitive cooperation for selling Apple and Beats products. The fine amounts to approximately $225 million according to the watchdog.
The antitrust authority stated on Tuesday that both tech giants willingly and knowingly entered an agreement on the 31st of October which enables them to sell Apple and Beats products directly in the marketplace through selected resellers. The discrimination has raise concerns over banning unofficial resellers from using Amazon platform to sell Apple products.
The Italian watchdog said the contract was violating EU rules and allows for the fine on both parties. Apple has been ordered to pay 134.5 million euros whereas Amazon has been fined 68.7 million euros. The order also comes with ending the discriminatory practice immediately. Neither parties have commented on the matter so far.