French court cut Apple's antitrust fine by nearly three times - to €372 million

Apple will pay nearly €400 million penalty in the anti-competitive practices case. The French court decided to reduce the initial penalty by about €700 million.

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France's antitrust committee in 2020 accused the U.S. company of interfering with the pricing policies of retailers and distributors who sold Apple products. According to the regulator, the Cupertino manufacturer forced them to set the price of goods in accordance with the prices of the official store.

Initially Apple was fined €1.1 billion, which was a record for French antitrust agencies. However, the appellate court in Paris has decided to reduce the penalty to €372 million, Reuters reported citing its own sources. Apple has not yet commented on the court's decision.

Source: Reuters