Apple Denied Appeal in UK App Store Case, Faces $2 Billion Payout
Apple Inc. (AAPL) shares dipped 0.29% to $272.69 as the UK Competition Appeal Tribunal rejected its bid to appeal a ruling on App Store commissions. The tech giant now faces potential damages exceeding £1 billion ($1.3 billion) for alleged anti-competitive practices.
The tribunal upheld findings that Apple abused its dominant position through its 30% fee structure. While barred from further appeals within CAT, Apple retains the right to challenge the decision in the UK Court of Appeal within 21 days. The company maintains its App Store provides competitive, secure benefits for developers and consumers alike.
This legal setback comes amid growing global scrutiny of Big Tech's marketplace practices. The ruling could embolden regulators worldwide examining similar commission structures across digital platforms.
