European Union regulators are expected to impose a ban on the App Store rules affecting some music streaming services and potentially levy heavy fines on Apple, according to a report by Bloomberg News published on Wednesday.
Based on the report, EU authorities are in the process of finalizing a decision that would prevent Apple from blocking music services that redirect users from the App Store to alternative subscription options, citing sources familiar with the investigation.
The decision is expected to be announced early next year, with potential fines for Apple amounting to up to 10% of its annual revenue, as reported by Bloomberg.
The investigation was triggered by a complaint from Sweden’s Spotify Technology four years ago, claiming that it was compelled to raise monthly subscription prices due to costs related to Apple’s App Store rules.
Earlier this year, the European Commission filed a complaint against Apple, deeming the conditions to be unnecessary and potentially resulting in increased costs for customers.
Apple did not respond to Reuters’ request for comment, and a spokesperson for the European Commission declined to comment on the matter.
Apple’s stock saw a slight increase in afternoon trading.
Source: nypost.com
