Thu. Jul 18th, 2024

US Government Files Lawsuit Against Apple, Alleging Monopolization of Smartphone Market

In a significant legal move, the US government has initiated a lawsuit against Apple, leveling accusations of monopolistic practices in the smartphone market. The lawsuit asserts that Apple has exploited its dominance over the iPhone app store to disadvantage competitors and enhance its own profitability. Denying the allegations, Apple pledges to vigorously contest the lawsuit. However, if the government succeeds, the case could prompt substantial changes in Apple’s operational framework or even necessitate its breakup. The announcement of the lawsuit triggered a more than 4% drop in Apple’s shares, signaling investor concern about the potential ramifications. This lawsuit marks the third instance of legal action against Apple by the US government since 2009 and is the first such challenge under President Biden’s administration. Given the complexities involved, the legal battle is anticipated to extend over several years before any definitive resolution is reached.

Related Post