1. The European Union (EU) has levied its first-ever antitrust penalty against Apple.
2. The fine amounts to nearly $2 billion.
3. Apple was penalized for breaking competition laws.
4. The violation involved unfairly favoring its own music streaming service over competitors.
5. The EU found that Apple restricted app developers from fully informing iOS users about alternative and cheaper music subscription services outside of the app.
6. The penalty highlights concerns about Apple’s dominant position in the music streaming market.
7. The decision was announced by EU Commission Vice President Margrethe Vestager.
8. The fine underscores the EU’s commitment to ensuring fair competition.
9. Apple’s actions were seen as abusing its market dominance.
10. The penalty serves as a significant signal to tech giants regarding anti-competitive practices in the digital space.