Apple has agreed to disclose its revenue in India to the country’s antitrust authority, the Competition Commission of India (CCI), following a judicial order. This decision aims to facilitate the calculation of potential fines related to antitrust violations.
In 2024, the CCI found Apple guilty of abusing its dominant position in the iOS app market. The commission requested Apple’s financial data to determine appropriate penalties. Initially, Apple resisted providing this information, leading to the possibility of a fine up to $38 billion, calculated based on global turnover as per India’s 2024 antitrust penalty provisions. Apple contested this approach, arguing that penalties should be based solely on local revenue.
After a judge mandated cooperation, Apple has now agreed to submit its Indian financials. This compliance marks a significant step in resolving the prolonged antitrust dispute. The outcome of this case could set a precedent for how multinational corporations are regulated in India, especially concerning the balance between global operations and local market practices.
Source: 9to5Mac
