Judges in Paris have sharply reduced a cartel fine for American tech giant Apple to a third of the original amount.
The company behind the iPhone now only has to pay 371.6 million euros instead of the previously imposed record fine of 1.1 billion euros.
The Autorité de la Concurrence, the French market watchdog, imposed the fine in 2020 because Apple allegedly sidelined a wholesaler that sold iPads in favour of other distributors. It was the largest fine ever imposed by the regulator. Apple appealed, accusing the competition authority of political motives behind the mega fine.
A Paris court spokesman reported the reduction of the fine by 728 million euros but could not provide details about the judges’ arguments. The French market watchdog is looking at whether he will appeal.
According to a spokesperson for the regulator, it is important to “ensure the deterrent nature of our fines” in order to take enforcement action against companies of the calibre of Apple.
