Apple, Amazon, Fined a Total of $225 Million as Italian Authority Believes Both Are Involved in an Anti-Competitive Tag-Team

Apple, Amazon Fined a Total of $225 Million as Italian Authority Believes Both Are Involved in an Anti-Competitive Tag-Team

Apple and Amazon are once more in deep trouble as they have been fined a cumulative sum of $225 million by an Italian watchdog that has accused the tech giants of limiting competition thanks to their practices. According to the antitrust authority, both entities have been found guilty in anti-competitive practices related to the sale of Apple and Beats products.

Apple Has Been Fined Nearly Twice the Amount as Amazon in USD for Alleged Anti-Competitive Behavior

A report from Reuters states that Amazon has been fined $77.3 million, while Apple will be forced to pay $151.2 million. Both fines are centered around restrictions that the companies placed on resellers, blocking them from providing customers with Apple and Beats products, thereby limiting competition. The Italian authority says that a 2018 agreement between the companies meant that only a selected number of sellers were allowed to put up products on Amazon’s Italian store, which violated EU rules.

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Both Apple and Amazon deny any wrongdoing and will appeal the fines. Apple has stated the following.

“To ensure our customers purchase genuine products, we work closely with our reseller partners and have dedicated teams of experts around the world who work with law enforcement, customs and merchants to ensure only genuine Apple products are being sold.”

As for Amazon, the online retail giant says that the success of sellers is advantageous for the company, so why would it attempt to block their sales.

“We reject the suggestion that Amazon benefits by excluding sellers from our store, since our business model relies on their success. As a result of the agreement, Italian customers can find the latest Apple and Beats products on our store, benefiting from a catalogue that more than doubled, with better deals and faster shipping.”

Apple and Amazon have been ordered to end their anti-competitive practices, assuming both companies believe they have made a mistake on their part.

News Source: Reuters

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