EU poised to fine Apple about 500 million euros

The €500 million fine results from Apple's App Store regulations that prevent developers from providing substitute subscription choices, so undermining competition in the music streaming market. Next month, the fine is anticipated to be formally revealed.

The Financial Times said on Sunday that it had received anonymous information indicating that Apple will be fined about 500 million euros ($539 million) by the European Union for allegedly breaking EU competition rules.

The FT stated that the fine should be revealed early in the next month.

The European Commission charged Apple with stifling competition in the music streaming industry last year by enforcing App Store policies that prohibit developers from alerting customers to alternative ways to make purchases.

Regarding the FT article, neither Apple nor the European Commission offered a statement. 1. (dollar = 0.9282 euros).

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