The United States Government has launched a legal offensive against Apple, accusing it of establishing a monopoly in the smartphone market with its iconic iPhone.
The lawsuit, filed in federal court in New Jersey, marks a major antitrust effort against the tech giant.
This in the middle of Joe Biden’s administration, through his re-election campaign.
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Attorney General Merrick Garland said in a statement:
“Consumers should not suffer higher prices due to monopolistic practices.”
In addition, he warned of the risk of Apple further strengthening its dominance in the smartphone sector if adequate measures are not taken.
The lawsuit accuses Apple of restricting access to the technology used in iPhones.
Which increases costs for consumers and makes it difficult for competitors to enter the smartphone market.
The Justice Department argues that the company has engaged in sustained illegal conduct to maintain its control over the industry.
Apple’s response was immediate, calling the lawsuit a threat to its identity: “This lawsuit threatens who we are.”
The company also suffered a setback in the financial market, with a 3.7% drop in the value of its shares after the lawsuit was announced.
For this reason, the market ‘punished’ it with this sharp drop in its shares.
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The post The US Government sues Apple for monopoly in the smartphone market appeared first on Minuto30.
2024-03-22 02:05:29
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