Live
- OpenAI Introduces Advanced AI Image Generator in ChatGPT’s GPT-4o
- Cong gives privilege notice against Amit Shah for ‘casting aspersions’ on Sonia Gandhi
- 'No way to run House', Rahul Gandhi attacks LS Speaker
- Seifert, Neesham power New Zealand to 4-1 series win over Pakistan
- It has 'been a tough year' for Gwyneth Paltrow after loss of her canine friends
- Airtel launches IPTV services across Andhra Pradesh and Telangana
- It will be more impactful than anti-CAA movement, says AIMIM as AIMPLB launches nationwide protest against Waqf Bill
- Maruti Suzuki to invest Rs 7,410 crore to set up 3rd factory at Haryana’s Kharkhoda
- Sensex, Nifty break 7-day winning streak, end lower on profit booking
- PM Matru Vandana Yojana severely underfunded: Sonia Gandhi
Meta and Apple Face EU Fines Over Digital Markets Act Violations
Meta and Apple could face fines for allegedly violating the EU's Digital Markets Act (DMA). The penalties are expected to be minor, with a final decision anticipated this month.
Tech giants Meta and Apple are facing potential penalties in the European Union (EU) for allegedly failing to comply with regulations designed to curb their market dominance. The investigations, which began last year, focus on potential breaches of the Digital Markets Act (DMA), a law implemented in May 2023 to promote fair competition in the digital sector.
Understanding the Digital Markets Act
The DMA was introduced to make it easier for consumers to switch between digital platforms such as social media, web browsers, and app stores. The law is aimed at preventing major tech companies from engaging in anti-competitive practices while giving smaller firms a fair opportunity to compete in the market.
Potential Fines and Regulatory Intent
According to sources from Reuters, EU regulators are prioritizing compliance over punishment, which suggests that any financial penalties imposed on Meta and Apple will be relatively small. The possible fines could be up to 10% of their global annual revenue, though the duration of the alleged violations has been short since the DMA only came into effect in 2023.
Geopolitical Considerations and US Response
The ongoing scrutiny of US-based tech firms has drawn international attention. Last month, former US President Donald Trump expressed concerns over potential tariffs against countries imposing fines on American corporations. However, the EU has denied any bias against US companies and maintains that its regulations are applied equally to all firms.
Meta and Apple's Reactions
Meta recently stated in a compliance report that, despite its efforts to align with the DMA, EU regulators are demanding additional changes beyond the legal requirements. Similarly, Apple has raised concerns that the mandated changes under the DMA could pose security risks, including malware, fraud, and scams.
Final Decision Expected Soon
The EU’s final ruling on the fines is expected this month, as EU antitrust chief Teresa Ribera indicated in February. While the penalties may be minimal, the case underscores the EU’s commitment to enforcing digital competition laws and ensuring compliance from tech giants.
Meta and Apple are under EU investigation for allegedly breaching the Digital Markets Act (DMA), which promotes fair competition in the tech industry. A decision on potential fines is expected soon.
