Amazon and Apple were fined $225 million in Italy for antitrust violations

Amazon and Apple were fined $225 million in Italy for antitrust violations (AMZN.O) and Apple Inc (AAPL.O) have been fined a total of more than 200 million euros ($225 million) by Italy’s antitrust watchdog for alleged anticompetitive collaboration in the sale of Apple and Beats items.

According to the terms of a 2018 agreement between the firms, only certain resellers were permitted to sell Apple and Beats items on Amazon.

It was a breach of European Union laws, according to the watchdog, and harmed pricing competitiveness.
Both Apple and Amazon have stated that they intend to appeal the penalty.

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The authorities fined Amazon 68.7 million euros and Apple 134.5 million euros, ordering the businesses to remove the limitations that prevented shops selling authentic Apple and Beats items from accessing Amazon.

It must be done in a non-discriminatory manner.

“We work closely with our reseller partners to guarantee our consumers purchase authentic items, and we have dedicated teams of specialists throughout the world who engage with law enforcement, customs, and merchants to ensure only genuine Apple products are sold,” Apple stated, denying any wrongdoing.

Amazon stated in a second statement that it strongly disagrees with the Italian authority’s decision and that the proposed fine is “disproportionate and unwarranted.”
“We reject the notion that Amazon profits from our store’s exclusion of merchants because our business model is based on their success. As a consequence of the arrangement, Italian customers will be able to find the latest Apple and Beats goods on our website, with a catalogue that has more than quadrupled, better pricing, and faster shipping “According to Amazon.

(1 dollar = 0.8885 euros)

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