Why was Apple fined $2 billion?

Apple Fined Nearly $2 Billion by the European Union Over Music Streaming Competition Matthias Schrader FILE - The Apple logo is illuminated at a store in the city center of Munich, Germany, Dec. 16, 2020. European Union fines Apple nearly $2 billion for unfairly favoring its own music streaming service over rivals.

Why is the EU imposing an antitrust penalty on Apple?

Link Copied! The EU is imposing its first-ever antitrust penalty on Apple for “abusing its dominant position” as a distributor of music streaming apps. The European Union has fined Apple €1.84 billion ($2 billion) for breaking its competition laws.

Why did AAPL impose a fine on Apple?

The bloc announced Monday that it was imposing the fine on Apple (AAPL) — its first-ever antitrust penalty on the US tech giant — for preventing rival music streaming services such as Spotify from telling iPhone users that they could find cheaper ways to subscribe outside of Apple’s app store.