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Italian Antitrust Regulator Slaps $225 Million Fine On Amazon And Apple


11/24/2021


Italian Antitrust Regulator Slaps $225 Million Fine On Amazon And Apple
The United States based tech giants Amazon.com and Apple Inc have been slapped a fine totaling more than 200 million euros ($225 million) by the antitrust authority of Italy over charges of the companies being allegedly involved in anti-competitive cooperation related to the marketing and sale of Apple and Beats products.
 
Just a few and selected resellers were authorized to sell Apple and Beats items on the Italian platform of Amazon according to the terms and conditions of a 2018 agreement between the two American firms, said the Italian regulator.
 
It added that the fine was imposed on the two companies because the aforementioned activity was in breach of European Union rules and affected competition on prices.
 
Both Apple and Amazon said they plan to appeal against the fines.
 
Amazon was imposed a fine of 68.7 million euros while Apple was slapped a fine of 134.5 million euros by the regulator. It also ordered the two firms to bring an end to its policy that imposes restrictions on certain retailers so that such retailers of genuine Apple and Beats products complete and unhindered scope to make use of the platform Amazon.it so that discrimination is removed.
 
"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 said, denying any wrongdoing.
 
It strongly disagreed with the decision of the Italian authority, Amazon said in a separate statement, and added 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 catalog that more than doubled, with better deals and faster shipping," Amazon said
 
(Source:www.moneycontrol.com)


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