Giant penalty to Apple and Amazon
The National Competition Board (CNMC) of Spain sanctioned the US companies Apple and Amazon with a total of 194 million 150 thousand euros for restricting competition in the online market.
In the CNMC statement, it is reported that different companies affiliated with the Amazon and Apple groups were fined a total of 194 million 150 thousand euros for “imposing certain restrictions on competition in the online market.”
It was announced that the Spanish Competition Board fined Apple 143 million 640 thousand euros and Amazon 50 million 510 thousand euros.
Emphasis was placed on protocol in 2018
In the statement, it was indicated that Apple and Amazon signed a protocol on October 31, 2018, which determined the conditions for Amazon to become an authorized seller of Apple, and it was noted that it includes certain provisions that restrict competition in relation to with the retail trade (online) of electronic products in Spain.
More than 90 percent of the sellers who use the Amazon site in Spain for the retail sale of Apple products are excluded from the main online market in Spain due to the protocol between Apple and Amazon, it was reported that sellers who do not have the authority to sell on Amazon lost an important sales channel. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
