Apple (AAPL) Faces Continued Antitrust Investigation by Indian Authorities

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4 days ago
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The Indian antitrust agency has rejected Apple Inc.'s (AAPL, Financial) request to halt the release of an investigative report that accuses the company of violating competition laws. This decision allows the case to proceed. The Competition Commission of India (CCI) initially ordered the recall of the report in August after Apple claimed that confidential business information had been disclosed to competitors, including Match Group (MTCH), the owner of Tinder, in 2021.

Following Apple's claims, the CCI demanded that all parties return and destroy copies of the report, subsequently issuing a revised version. In November, Apple accused the primary complainant, the Indian non-profit Together We Fight Society (TWFS), of not complying with the directive to destroy the old report. Apple requested the CCI to take action against TWFS and withhold the revised report.

The CCI, however, deemed Apple's request to delay the report's release as unfounded. Their investigation concluded that Apple leveraged its dominant position in the iOS app store market to the detriment of app developers, users, and other payment processors. Apple has denied any wrongdoing, arguing that it holds a minor market share in India, where smartphones using Google's Android system are predominant.

Additionally, Apple has been instructed to submit audited financial statements for the fiscal years 2021-22, 2022-23, and 2023-24, as per regulatory guidelines, to determine potential fines. Senior CCI officials will review the investigative report and make a final decision on the case.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.