Judge orders Apple to loosen grip on its App Store
If such a change happens in Apple’s App Store, it would save app creators billions of dollars and encourage them to cut prices that will benefit consumers.
The judge’s decision came on Friday in Epic Games’ anti-competitive case. Epic Games is best known as the maker of Fortnite. Around 400 million people play this video game worldwide.
Apple’s shares were down more than two percent in trading Friday afternoon following the federal court’s decision. Investors expect the decision to result in a loss of billions of dollars in annual revenue for the company.
Apple charges a commission of up to 30 percent on transactions made through the app placed in its store. Such transactions include digital transactions involving songs, music, movies including Netflix or Spotify subscriptions, etc.
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