Italy's antitrust watchdog has fined U.S. tech giants Apple and Amazon more than 200 million euros ($225 million) for alleged anti-competitive cooperation in the sale of Apple and Beats products. Contractual provisions of a 2018 agreement between the companies meant only selected resellers were allowed to sell Apple and Beats products on Amazon, the competition watchdog said, adding that this was in violation of European Union rules. The watchdog ordered Apple to pay 134.5 million euros and e-commerce firm Amazon 68.7 million euros for infringing EU laws through restrictions that penalized sellers of Apple and Beats products. Both Apple and Amazon said they plan to appeal against the fines. “We reject the ICA's suggestion that Amazon benefits by excluding sellers from our store, since our business model relies on their success.” Apple said it respects the Italian Competition Authority "but believe we have done nothing wrong." "Teaming up with selected resellers helps customer safety because it ensures products are genuine. Non-genuine products deliver an inferior experience and can often be dangerous." Apple said “To ensure our customers purchase genuine products, we work closely with our reseller partners and have dedicated teams of experts around the world who work with law enforcement, customs, and merchants to ensure only genuine Apple products are being sold.” The post Italy hits Amazon, Apple with $225 million fine appeared first on Linda Ikeji Blog.
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