The US government has tightened its grip on big tech companies. Earlier, legal cases were also filed against Alphabet, which runs internet search engine Google, Meta Platforms, which controls social media site Facebook, and e-commerce company Amazon. Regarding this, Attorney General Merrick Garland said in a statement, “Customers should not have to pay higher prices because companies violate antitrust laws. If this violation is not stopped, Apple’s monopoly in the smartphone market will continue to strengthen. ”
The Justice Department said that Apple charges a price of $ 1,599 (about Rs 1,33,200) for an iPhone and earns more profit than other companies in the industry. Apart from this, it takes charges from various business partners ranging from software developers to credit card issuing companies. This leads to higher prices for customers and Apple Profit increases. Apple’s market capitalization is approximately $2.7 trillion. The company has denied the allegations made by the US government.
Apple is accused of making it difficult for messaging apps and smartwatches to run on its smartphones. Competitors have been harmed by its App Store’s policy related to streaming services for games. There have also been investigations against Apple regarding its business practices in Europe, South Korea and Japan. Apart from this, rivals like Epic Games have also taken the company to court. iPhone sales in China, one of Apple’s biggest markets, have fallen 24 percent year-on-year in the first six weeks of this year. The company is facing tough competition from smartphone makers like China’s Huawei. Apple’s share in China’s smartphone market has declined to 15.7 percent. It has slipped to fourth place in this market.
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