Apple and Amazon were fined for secret agreement – RT Business News

Italy has fined US tech giants Amazon and Apple around $ 230 million, accusing companies of anti-competitive collaborations on sales on Amazon’s Italian platform.

The two companies came under fire for an agreement they signed back in 2018, which reportedly only allowed select retailers to sell Apple products and Beats electronic accessories on

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The Italian antitrust authority ruled that the companies were in breach of EU law and affected price competition. Apple and Amazon were ordered to terminate their agreement and the restrictions it imposes on all non-discriminatory retailers of Apple and Beats products on

Amazon was fined $ 77.4 million and Apple was fined $ 151.5 million.

Both technology giants said they would appeal the decision. In a statement quoted by Reuters, Amazon called the fine “disproportionate and unjustified,“rejects the claim that it”benefits of excluding salespeople from our store, as our business model depends on their success.

In a separate statement, Apple also denied the allegations, stressing that the company chooses retail partners carefully “to ensure that only genuine Apple products are sold. “

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