Apple Korea offers 100 billion won to address anti-trust allegations

Apple Korea offers 100 billion won to address anti-trust allegations

by Nandita Bhardwaj

Apple’s South Korean unit has reportedly proposed measures for addressing anti-trust concerns by offering to deliver 100 billion won ($84.02 million) worth of support initiatives for consumers, small businesses, and others.

Sources state that Apple has decided to furnish 40 billion won for the construction of a research and development centre for Korea’s small manufacturers. A sum of another 25 billion won would be deployed for establishing an academy for providing education to developers, with a further 25 billion utilized for giving consumer discounts on warranty repairs and other benefits.

As per reports, Korea Fair Trade Commission, the Korean watchdog, has initiated an investigation against Apple Korea. The tech major has been alleged of abusing its ruling position to force mobile carriers to pay for warranty repairs and advertising.

As stated by KFTC, Apple has reportedly proposed to fix inequitable terms with mobile carriers, adding that the company will discuss the terms for sharing advertising costs with telecom firms, intending to help reduce burdens to carriers. KFTC has decided to terminate the case without inferring whether Apple did something actionable, provided the proposed remedies are found to be reasonable after considering public opinion.

As per sources, Apple is reported to have held an 18 per cent share in South Korea’s mobile phone market in 2019. The company currently faces antitrust probes in other countries, for instance in France, where it has been already fined with a sum of 1.1 billion euros ($1.23 billion) under allegations of anti-competitive behavior towards its retail and distribution network.

For the uninitiated, Apple Inc., is an American multinational tech major specialized in the design, development, and sale of computer software, customer electronics, and online services. The company has its headquarters in Cupertino, California, and is considered as one of the Big Tech companies, alongside Facebook, Amazon, Microsoft, and Google.

 

Source Credits:

https://in.reuters.com/article/apple-southkorea-antitrust/apple-korea-under-antitrust-probe-proposes-84-million-to-support-small-businesses-idINKBN25K09V

Nandita Bhardwaj

Having a marketing management post graduate degree under her belt, Nandita spent considerable time working in the field of recruitment. However, her real interest lay in playing with words and soon enough, she commenced her career in the field of content creation. Currently, she authors insightfuRead more...