this post was submitted on 18 Feb 2024
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Not enough, this is toll tax for them.
Is Apple making over €500m in profit in the EU specifically as a result of anticompetitive practices involving music?
I'm all for punishing white collar crime severely, but the goal for the EU seems to be to set the fines so they're not especially punitive, but still high enough that the offender would have saved money by just playing by the rules. That's a damn sight better than what we usually get in the US.
fines will get bigger if Apple doesn't correct its "anticompetitive practices"
I am also wondering where that amount comes from. Though I do not think it should be based on profit. A company can also be unprofitable on purpose in a region in order to destroy the competition an gain market share. Then after conquering the market they increase the prices again.
In this case I suppose it also be difficult to quantify the fine. Of course the duration of the anti-competitive behaviour should also be taken into consideration and apples low willingness to better itself. Is there any article explaining the 500m euro?