A French antitrust watchdog levied a $1.22 billion fine against Apple in 2020, but an appeals court has reduced the fine to $366 million after tossing a charge.
Apple antitrust fine cut by 2/3 after appeal
were brought against Apple in 2020 by a French antitrust watchdog -- abusing retailer economic dependency and fixed pricing. Apple denied the allegations, citing that the charges were made based on practices from over a decade prior.
According to a report from Reuters, Apple successfully appealed the fine and the charges, to an extent. The appeals court backed the antitrust watchdog's charge that Apple abused retailers' economic dependency but tossed the fixed-pricing charge.
Sources familiar with the matter stated that the time scope of the abuse charge was reduced. Also, the rate used to determine the fine was lowered.
These reductions and changes resulted in the overall fine being reduced from $1.22 billion to $366 million.
"While the court correctly reversed part of the French Competition Authority's decision, we believe it should be overturned in full and plan to appeal," Apple said in a statement. "The decision relates to practices from more than a decade ago that even the (French authority) recognized are no longer in use."
The court didn't comment on the exact content of the new decision, but "partially confirmed" the watchdog's decision. Expect Apple to appeal the updated fine soon.