Spain Penalizes Amazon and Apple with €194M for Conspiring to Limit Competition in Device Sales
Portfolio Pulse from Anusuya Lahiri
Spain's antitrust watchdog has fined Amazon and Apple a total of €194.1 million ($218.03 million) for conspiring to restrict the online sale of devices from Apple and competitors in Spain. The penalties were €143.6 million for Apple and €50.5 million for Amazon. The two companies have two months to appeal the decision. The deal between the two companies led to an increase in the prices of Apple devices sold online in Spain.
July 19, 2023 | 11:41 am
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NEGATIVE IMPACT
Apple has been fined €143.6 million by Spain's antitrust watchdog for restricting online device sales. This could negatively impact the company's reputation and financials.
The fine imposed by Spain's antitrust watchdog could negatively impact Apple's financials. Additionally, the negative publicity could harm the company's reputation, potentially affecting its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Amazon has been fined €50.5 million by Spain's antitrust watchdog for restricting online device sales. This could negatively impact the company's reputation and financials.
The fine imposed by Spain's antitrust watchdog could negatively impact Amazon's financials. Additionally, the negative publicity could harm the company's reputation, potentially affecting its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100