More Trouble Awaits For Google, Apple's App Store Commissions - Read How?

Loading...
Loading...
  • South Korea could prohibit Alphabet Inc GOOG GOOGL, Google, and Apple Inc AAPL from requiring software developers to use their payment systems Reuters reported.
  • If the parliament's legislation and judiciary committee ratify the "Anti-Google law" today, it could mark the end of tech companies' commissions after a final vote on Wednesday.
  • Apple defended its commissions during the annual developer conference. The iPhone maker's store growth has also taken a hit.
  • The tech companies have faced global flak for their growing dominancefurther highlighted by the Epic Games lawsuit.
  • If the new bill becomes the law, developers will be able to use other independent payment systems.
  • Some European lawmakers are also trying to curb the dominance of U.S. tech companies through the Digital Markets Act.
  • Price Action: AAPL shares traded lower by 0.15% at $149.49 in the premarket session on the last check Tuesday.
Posted In: GovernmentNewsRegulationsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...