Image Source: The Week
Italy's antitrust authority has fined U.S. tech giants Amazon and Apple a total of more than 200 million euros ($225 million) for alleged anti-competitive practices.
The fine relates to Apple and Beats products. A 2018 agreement between the tech giants allowed only Amazon and select resellers to offer Apple and Beats products on Amazon Italy. Additionally, there were restrictions placed on cross-border sales. According to watchdogs, this violated European Union rules and affected competition on prices.
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The Italian authority has imposed a fine of 68.7 million euros (~$77.3 million) on Amazon and 134.5 million euros (~$151 million) on Apple. The tech giants are also ordered to end the restrictions and give resellers access in a "non-discriminatory manner."
Both Amazon and Apple said they plan to appeal against the fines. Apple also commented that it respected the watchdog's decision, "but believe we have done nothing wrong."
"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," - Apple
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Amazon also made a statement disagreeing with the decision of the Italian authority and said that the proposed fine was "disproportionate and unjustified".
"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," - Amazon
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