$50m a day: EU could fine Apple for failing to comply with DMA law

According to a Financial Times report, the European Union is set to fine Apple for failing to comply with the Digital Markets Act (DMA). This will be the first fine imposed on a major tech company under this law.

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Apple began implementing innovations earlier this year to comply with the DMA. These included significantly reducing App Store fees, revising app marketplace requirements, changing the fee structure for major technologies, adding web distribution, and more.

However, the EU believes the company has not done enough and is still in violation of the law. Specifically, Apple is not complying with obligations that allow app developers to redirect users to offerings outside of the App Store without charging them fees. Apple also receives an additional 3% if a developer uses its payment processor.

As a result, Apple faces a hefty fine - 5% of its global daily turnover. And that's about $50 million a day.

The source says that the EU may announce its decision in the coming weeks. However, it emphasises that the EU has only made preliminary findings and Apple can still make changes to avoid the fine.

Source: Financial Times