All of Apple’s economic achievements (and troubles in India)
The value of Apple on the stock exchange has exceeded 3 trillion dollars. But the company is under investigation in India for abuse of dominance. All the details
Apple on Monday became the first company to reach a market value of $ 3 trillion. Its stock traded at a record $ 182.88 before dropping to $ 182.01. As a result, the company's market capitalization dropped slightly.
Apple's fortunes are mostly tied to iPhone smartphones, MacBook computers, and digital services like Apple Music and Apple TV.
THE FORTUNES OF BIG TECH
Many other large US technology companies, collectively known as "Big Tech", have exceeded $ 1 trillion in stock market value: for example, Amazon, Alphabet and Microsoft (which is worth 2.5 trillion).
THE TROUBLE OF APPLE IN INDIA
On Friday, December 31, however, the Indian competition protection authority asked for an investigation to be opened against Apple for alleged abuse of a dominant position in the sector of mobile applications. The company is accused of limiting competition by imposing a 30 percent commission on purchases in the App Store (the only store available on iPhone and iPad), not allowing alternative payment methods to those in-app and to have their own applications that compete with those developed by third parties.
THE DEFENSE OF APPLE
According to the version reported by the Indian authority, Apple allegedly defended itself against the allegations by claiming that its market share on smartphones in the country is less than 5 percent. The agency's investigation, however, does not focus on end users but on app developers.
The investigation is expected to be completed in sixty days.
GOOGLE ALSO IN THE SIGHT
The Indian authority is also investigating Google, which like Apple imposes a 30 percent commission on purchases on Google Play, the app store on Android devices.
THE PROBLEMS AT THE FOXCONN FACTORY
Apple recently said it has monitored Foxconn's factory in Sriperumbudur, South India, where iPhones are assembled. Over the preceding weeks, over two hundred and fifty women who worked and slept in the factory in question had received treatment for food poisoning.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/apple-capitalizzazione-3-miliardi-antitrust-india/ on Tue, 04 Jan 2022 09:36:05 +0000.