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    AAPL   US0378331005

APPLE INC.

(AAPL)
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Delayed Nasdaq  -  04:00 2022-09-30 pm EDT
138.20 USD   -3.00%
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S.Korea to probe app store operators over suspected in-app payment violations

08/09/2022 | 04:15am EDT
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SEOUL (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.

Google, Apple and One Store were not immediately available for comment when contacted by Reuters.

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 and Louise Heavens)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.82% 95.65 Delayed Quote.-33.97%
APPLE INC. -3.00% 138.2 Delayed Quote.-19.76%
KCC CORPORATION -1.49% 231500 End-of-day quote.-26.51%
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Analyst Recommendations on APPLE INC.
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Financials (USD)
Sales 2022 393 B - -
Net income 2022 99 548 M - -
Net cash 2022 56 159 M - -
P/E ratio 2022 22,6x
Yield 2022 0,66%
Capitalization 2 221 B 2 221 B -
EV / Sales 2022 5,51x
EV / Sales 2023 5,19x
Nbr of Employees 154 000
Free-Float 99,9%
Chart APPLE INC.
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Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 44
Last Close Price 138,20 $
Average target price 182,30 $
Spread / Average Target 31,9%
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
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