Business
Apple, Amazon fined $218 mn in Spain for restricting competition
London, July 19
Amazon and Apple have been fined a total of $218 million in Spain for allegedly restricting competition around the reselling and marketing of Apple products on the e-commerce giant's e-commerce marketplace in the country.
Spain's antitrust authority named CNMC fined Apple $161 million and Amazon around $57 million.
The country's competition watchdog found that both the companies "unreasonably restricted the number of resellers of Apple products on the Amazon website in Spain".
The tech giants also "limited the advertising spaces where competing Apple products can be advertised on the Amazon website in Spain".
"Finally, they limited the possibility of Amazon directing marketing campaigns to customers of Apple products on its website in Spain to offer them competing products from other brands," the authority said in a statement.
Now, both Apple and Amazon have agreed to include a series of clauses in the contracts that regulate the conditions of Amazon as an Apple distributor that affected the sale of Apple products and other brands on the Amazon website in Spain.
According to the watchdog, more than 90 per cent of the resellers who had been using the Amazon website in Spain for the retail sale of Apple products were excluded from the main online market in the country.
"Sales of Apple products through the Amazon website in Spain by sellers based in other EU countries were reduced, thus limiting trade between member states and there was an increase in the relative prices paid by consumers for the purchase of Apple products in said online market in Spain," the antitrust authority noted.
4 hours ago
Trump links Hormuz crisis to oil opportunity
6 hours ago
South Korean, French ministers discuss deepening cultural cooperation
6 hours ago
Over 9,000 families displaced in Afghanistan's Kunar due to Pakistani rocket attacks
6 hours ago
“From Loyalty to Leadership: Eby Kuriakose’s Defining Battle”
6 hours ago
Israeli President Herzog discuss West Asia conflict with Pope Leo XIV; calls for cooperation in fight against anti-semitism
7 hours ago
UAE: Five Indians among 12 injured by falling missile debris in Abu Dhabi
8 hours ago
US efforts to recover downed F-35 fighter pilot fail: Iranian media
10 hours ago
Succession battle in D-Company: ISI orchestrates power balance amid Dawood’s ill-health
12 hours ago
Sonam Kapoor shares first pic holding her newborn close to her heart from the hospital
12 hours ago
Akshay Kumar supports Martial Art's students in Thailand by bearing full training expenses, reveals student
12 hours ago
Amazon issues public notice on Mohanlal's 'Drishyam 3'; states it is the sole holder of the film's digital rights!
12 hours ago
Somy Ali says she intentionally chose films with Mithun Chakraborty, says he didn't have even ‘an iota of ego’
12 hours ago
Ram Charan drops big update on 'Peddi'; says talkie portions of film done!
