EU Fines Apple and Meta Millions in Digital Competition Crackdown

The European Union has fined tech giants Apple and Meta hundreds of millions of Euros for breaking its digital competition rules. Apple's fine of 500 million Euros stems from their restriction on app makers suggesting cheaper options outside the App Store. Meta was fined 200 million Euros for its ad or fee policy.

In a significant move to enforce digital competition regulations, the European Union has levied hefty fines against tech behemoths Apple and Meta, collectively amounting to hundreds of millions of Euros. The penalties come as part of the EU's robust Digital Markets Act (DMA) enforcement.

Apple has been handed a substantial 500 million Euro fine for limiting app makers from offering users competitive pricing options outside its App Store. Meanwhile, Meta faced a 200 million Euro penalty due to its policy forcing Facebook and Instagram users to choose between ads or fees, a move seen as stifling consumer choice.

These penalties, although smaller than previous ones, underscore the EU's stance on holding tech giants accountable. As the global market grapples with evolving regulations, EU Executive Vice-President Henna Virkkunen stressed the importance of consumer control and business freedom in the digital arena.

(With inputs from agencies.)