The US Department of Justice (DOJ) has filed a lawsuit against tech giant Apple, accusing the company of maintaining a monopoly on its iPhone and imposing high costs on consumers. Supported by multiple US states, the lawsuit criticizes Apple for making it difficult for consumers to switch to cheaper smartphones and devices.
Following news of the lawsuit, shares in Apple fell by 3.75 percent on Wall Street. The DOJ alleges that Apple’s practices force consumers to stay within the Apple ecosystem and buy more expensive hardware, hindering competition and innovation in the market.
Apple has denied the allegations, stating that they will vigorously defend against the lawsuit. The lawsuit also accuses Apple of limiting the creation of Super Apps and imposing fees on other applications on the iPhone.
With profits exceeding those of any other company in the Fortune 500 and even the GDP of many countries, Apple is facing increased antitrust scrutiny in the United States. This lawsuit against Apple follows a similar case from Epic Games and a 1.8 billion euro fine from the EU over preventing users from accessing information about alternative music streaming services.
The DOJ investigation into Apple began in 2019 under the Trump administration, marking a broader trend of antitrust scrutiny against big tech companies in the US. As the case unfolds, the tech industry will be closely watching the outcome and potential implications for Apple and other major tech companies. Stay tuned for updates on this developing story.
“Travel aficionado. Incurable bacon specialist. Tv evangelist. Wannabe internet enthusiast. Typical creator.”