Apple Hit With $2 Billion EU Antitrust Fine in Spotify Case, Will Appeal

Brussels on Monday fined Apple EUR 1.84 billion euros $2 billion (roughly Rs. 16,581 crore) for thwarting competition from music streaming rivals via restrictions on its App Store, the iPhone maker’s first ever penalty for breaching EU rules.

A basic penalty of EUR 40 million (roughly Rs. 359 crore) was inflated by a huge lump sum included as a deterrent – a first for the European Union’s antitrust authorities.

The European Commission charged…