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CEO NA Magazine > Technology > Apple fined $570 million and Meta $228 million for breach of EU law

Apple fined $570 million and Meta $228 million for breach of EU law

in Technology
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Apple was fined 500 million euros ($570 million) on Wednesday and Meta 200 million euros, as European Union antitrust regulators handed out the first sanctions under landmark legislation aimed at curbing the power of Big Tech.

The EU fines could stoke tensions with U.S President Donald Trump who has threatened to levy tariffs against countries that penalise U.S. companies.

They follow a year-long investigation by the European Commission, the EU executive, into whether the companies comply with the Digital Markets Act that seeks to allow smaller rivals into markets dominated by the biggest companies.

Apple said it would challenge the EU fine.

“Today’s announcements are yet another example of the European Commission unfairly targeting Apple in a series of decisions that are bad for the privacy and security of our users, bad for products, and force us to give away our technology for free,” Apple said in an emailed statement.

Meta also criticised the EU decision.

“The European Commission is attempting to handicap successful American businesses while allowing Chinese and European companies to operate under different standards,” it said in an emailed statement.

“This isn’t just about a fine; the Commission forcing us to change our business model, effectively imposing a multi-billion-dollar tariff on Meta while requiring us to offer an inferior service.”

The fines are modest compared to the penalties meted out by the previous EU antitrust chief Margrethe Vestager during her term. Sources, speaking on condition of anonymity, have said this is due to the short period of the breaches, a focus on compliance rather than sanctions and a desire to avoid possible retaliation from Trump.

By  Foo Yun Chee and Jan Strupczewski/ Reuters

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