Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Apple Inc.
  6. News
  7. Summary
    AAPL   US0378331005

APPLE INC.

(AAPL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Google, in fight against record EU fine, slams regulators for ignoring Apple

09/27/2021 | 11:41am EDT
FILE PHOTO: A 3D printed Android mascot Bugdroid is seen in front of a Google logo in this illustration

LUXEMBOURG (Reuters) -Alphabet unit Google on Monday blasted EU antitrust regulators for ignoring rival Apple as it launched a bid to get Europe's second-highest court to annul a record 4.34-billion euro ($5.1 billion) fine related to its Android operating system.

Far from holding back rivals and harming users, Android has been a massive success story of competition at work, representatives of Google told a panel of five judges at the General Court at the start of a five-day hearing.

The European Commission fined Google in 2018, saying that it had used Android since 2011 to thwart rivals and cement its dominance in general internet search.

Regardless of how the court rules, Google, Apple, Amazon and Facebook will have to change their business models in the coming years to ensure a level playing field for rivals following tough new rules proposed by European Union antitrust chief Margrethe Vestager.

"The Commission shut its eyes to the real competitive dynamic in this industry, that between Apple and Android," Google's lawyer Meredith Pickford told the court.

"By defining markets too narrowly and downplaying the potent constraint imposed by the highly powerful Apple, the Commission has mistakenly found Google to be dominant in mobile operating systems and app stores, when it was in fact a vigorous market disrupter," he said.

Pickford said Android "is an exceptional success story of the power of competition in action".

Commission lawyer Nicholas Khan dismissed Apple's role because of its small market share compared with Android.

"Bringing Apple into the picture doesn't change things very much. Google and Apple pursue different models," he told the court.

Khan cited Google's agreements which forced phone manufacturers to pre-install Google Search, the Chrome browser and the Google Play app store on their Android devices, and payments to pre-install only Google Search as conduct that did not allow for competition.

He said Google's dominance as an incumbent and the immense barriers for rivals resulted in "a virtuous circle for Google but a vicious circle for anybody else".

Android, free for device makers to use, is found on about 80% of the world's smartphones. The case is the most important of the European Union's three cases against Google because of Android's market power. Google has racked up more than 8 billion euros in EU antitrust fines in the last decade.

German phone maker Gigaset Communications GmbH, which is backing Google, said its success as a European smartphone maker was due to Android's open platform and lamented the negative impact of the Commission's decision on its business.

"The licence fee for the Play Store that Google now charges as a result of the contested decision represents a significant portion of the price of Gigaset's smartphones aimed at price-sensitive consumers," its lawyer Jean-François Bellis told the court.

Lobbying group FairSearch, whose complaint triggered the Commission case, was however scathing about Google's tactics with phone makers.

"Google adopted a classic bait and switch strategy. It hooked (them) on a supposedly free and open source operating system subsidised by its search monopoly, only to shut that system to competition through the web of restrictions at issue in this case," its lawyer Thomas Vinje told the court.

A verdict may come next year. The case is T-604/18 Google vs European Commission.

($1 = 0.8537 euros)

(Reporting by Foo Yun Chee; Editing by Kirsten Donovan)

By Foo Yun Chee


© Reuters 2021
All news about APPLE INC.
10/21U.S. says firms may meet chip data request amid Taiwan, South Korea concerns
RE
10/21NEWS HIGHLIGHTS : Top Company News of the Day
DJ
10/21Snap shares plunge 25% as Apple privacy changes hit ads business
RE
10/21APPLE : Consumer watchdog to probe Big Tech payment systems
AQ
10/21Snap shares plunge 25% as Apple privacy changes hit ads business
RE
10/21Google halves Play Store fees for subscription apps
RE
10/21APPLE : Regulator seeks transparency for payment systems of big tech
AQ
10/21CONTEMPORARY AMPEREX TECHNOLOGY : Analysis-Tesla looks to pave the way for Chinese battery..
RE
10/21Match and Bumble Gain After Reports of Google Play Fee Cuts
DJ
10/21ALPHABET : Google Cuts Play Store Fees Up to 15% in Challenge to Apple
MT
More news
Analyst Recommendations on APPLE INC.
More recommendations
Financials (USD)
Sales 2021 366 B - -
Net income 2021 93 886 M - -
Net cash 2021 78 176 M - -
P/E ratio 2021 26,8x
Yield 2021 0,58%
Capitalization 2 471 B 2 471 B -
EV / Sales 2021 6,53x
EV / Sales 2022 6,32x
Nbr of Employees 147 000
Free-Float 99,0%
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 44
Last Close Price 149,48 $
Average target price 166,53 $
Spread / Average Target 11,4%
EPS Revisions
Managers and Directors
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
APPLE INC.12.65%2 470 929
XIAOMI CORPORATION-32.38%73 247
WINGTECH TECHNOLOGY CO.,LTD0.08%19 670
SHENZHEN TRANSSION HOLDINGS CO., LTD.-9.14%17 435
FIH MOBILE LIMITED29.47%1 278
DORO AB (PUBL)38.54%181