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Tech giants Apple Inc (NASDAQ:AAPL) and Google-parent Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) will face an antitrust investigation in Japan, Bloomberg News reported on Sunday — citing the Nikkei newspaper.
What Happened: The antitrust panel of officials, bureaucrats and external experts will evaluate Apple and Google’s business dealings with Japanese smartphone makers and whether they are done in a fair manner in comparison with cases overseas, the report noted.
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The government may tighten antitrust regulations if the panel finds any issues from the probe, as per the Nikkei.
The probe will include input from executives from domestic smartphone handset makers as well as manufacturers of smart speakers and personal computers.
Why It Matters: Apple and Google are among U.S. tech giants facing several antitrust probes due to their strong influence on the smartphone ecosystem. A number of Google’s antitrust lawsuits were focused on its search and advertising businesses. A Senate hearing in April took aim at Apple and Google for abusing their dominant positions.
Price Action: AAPL shares closed 0.98% higher at $127.35 on Friday. GOOGL shares closed 0.20% lower at $2,430.20 on Friday.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.