179 On Monday, the Paris Commercial Court ruled that Apple must pay a fine of just over 1 million euros ($1.06 million) for imposing unfair commercial clauses on French app developers in order to access the company’s App Store. According to the court’s ruling, Apple, which has a market value of approximately $2.1 trillion, is not required to make changes to the App Store’s clauses as the incoming European Union Digital Markets Act will mandate such changes regardless. The ruling stated that Apple had abused its dominant position in the market and imposed abusive clauses on app developers in France, which resulted in the imposition of the fine. The court ruled that the fine was necessary to deter Apple from continuing such practices in the future and to ensure that app developers are not subjected to abusive treatment. Although small in comparison to the massive profits generated by Apple, this fine is another indication of the legal pressures the company faces to relax its control over the App Store, which is currently the only way for alternative app developers to reach customers. A representative from Apple stated that the company will review the ruling and believes “in vibrant and competitive markets where innovation can thrive”, adding that “through the App Store, we’ve helped French developers of all sizes share their passion and creativity with users around the world while creating a secure and trusted place for customers.” You Might Be Interested In DIFC Academy Collaborates with GCA to Address Cybersecurity Challenges for Small Businesses Nasdaq Extends Risk Platform into Asia through Thailand’s KKPS SEC Aims to Compel Elon Musk’s Testimony on Twitter Stock Purchases Samsung Electronics to develop Industry’s First 12nm-Class DDR5 DRAM AliveCor’s KardiaMobile card recognized with the 2023 CES Innovation Award Apple’s AI Gamble Pays Off: Stock Soars, Nears Microsoft’s Value