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    GOOGL   US02079K3059

ALPHABET INC.

(GOOGL)
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Real-time Estimate Cboe BZX  -  01:30 2022-09-27 pm EDT
97.16 USD   -1.03%
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S.Korea to probe app store operators over suspected in-app payment violations

08/09/2022 | 03:47am EDT

SEOUL, Aug 9 (Reuters) - South Korea's telecommunications regulator on Tuesday said it plans to launch an investigation into app store operators such as Apple Inc, Alphabet's Google and One Store over suspected violations of in-app payment law.

Last year, South Korea passed the law, an amendment to the Telecommunications Business Act, which bans major app store operators such as Google and Apple from forcing software developers to use their payment systems.

The rules have been in effect since March.

The Korea Communications Commissions said in a statement it had conducted an inspection since May 17 to determine whether Google, Apple and One Store had violated the revised Telecommunications Business Act. It determined that all three app operators might have violated the rules.

The KCC added that it plans to take strict measures such as correction orders or imposing fines if the probe finds barred activities.

Barred acts include app market operators unfairly delaying the review of mobile content, or refusing, delaying, restricting, deleting, or blocking the registration, renewal, or inspection of mobile content that uses third-party payment methods.

Potential fines for infractions will go as high as 2% of the average annual revenue from related business practices, the rules say. (Reporting by Heekyong Yang; Editing by David Holmes)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.19% 97.11 Delayed Quote.-32.23%
APPLE INC. 0.17% 151.17 Delayed Quote.-15.28%
KCC CORPORATION 3.83% 244000 End-of-day quote.-22.54%
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Analyst Recommendations on ALPHABET INC.
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Financials (USD)
Sales 2022 290 B - -
Net income 2022 68 283 M - -
Net cash 2022 131 B - -
P/E ratio 2022 18,9x
Yield 2022 -
Capitalization 1 284 B 1 284 B -
EV / Sales 2022 3,98x
EV / Sales 2023 3,52x
Nbr of Employees 174 014
Free-Float 89,4%
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Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 51
Last Close Price 98,17 $
Average target price 142,80 $
Spread / Average Target 45,5%
EPS Revisions
Managers and Directors
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
John L Doerr Independent Director
Ann Mather Independent Director
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