France's antitrust watchdog just fined Apple $1.2 billion for anti-competitive behaviour

AP Photo/Markus Schreiber

Apple CEO Tim Cook.

• Apple on Monday got slapped with a 1.1 billion euro ($1.2 billion) fine from France's antitrust watchdog.
• The watchdog said Apple indulged in anti-competitive behavior in its distribution network, and abused economic dependence on its resellers.
• Two Apple resellers were also given multi-million dollar fines.
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France's competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros ($1.2 billion) for anti-competitive behaviour in its distribution network and an abuse of economic dependence on its resellers.

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Two of Apple's wholesalers, Tech Data and Ingram Micro, were fined 63 million euros ($70 million) and 76 million euros ($85 million) respectively, for unlawfully agreeing on prices, the authority said.

"Apple and its two wholesalers have agreed not to compete with each other and to prevent distributors from competing with each other, thereby sterilising the wholesale market for Apple products," it said

This is a developing story...