Apple agrees to submit India financials in long-pending antitrust case
Apple has agreed to provide its financial information for its India operations as part of an ongoing antitrust investigation. This case, which began in 2021, examines allegations that Apple abused its market position in the iPhone apps market. The Competition Commission of India has stated that it only requires Apple's India-specific financials to proceed with the case.
- ▪Apple has agreed to submit its financials to India's antitrust body as part of an investigation into its market practices.
- ▪The case is significant for Apple as it seeks to expand its presence in India, where it has increased its market share from 2% to 9% in five years.
- ▪The Competition Commission of India found that Apple exploited its dominant position in the iPhone apps market and has requested specific financial details for penalty calculations.
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Apple has agreed to submit the financials of its India business to the country’s antitrust body as part of an investigation that found the U.S. firm abused its market position, taking the long-delayed case a step closer to a potential penalty decision, an agency order shows.The case is Apple’s most high-profile regulatory headache in India, a key growth market where it has rapidly expanded iPhone production as it diversifies beyond China. The iPhone accounts for 9% of India’s smartphone market, from about 2% five years ago, according to Counterpoint Research data.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Hindu.
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