Apple To Face EU Lawsuit With $27 Billion Fine

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Apple is likely to face an antitrust lawsuit headed by the European Union (EU). The focus of the prosecution should be the NFC chip used for payments on Apple Pay, a technology that has been closed and is not open to access by other companies in the sector.

The information was released this Wednesday (06) by Reuters. According to the vehicle, EU sources said the entity is preparing a document to ask Apple for an explanation about the case.

The formalization, which should be sent to Apple only in 2022, will accuse the company of establishing anti-competitive market practices. The process is carried out by the European Competition Commission, the entity responsible for regulating the market on the continent and which is headed by the Danish economist Margrethe Vestager.

According to Reuters, the investigation into the case began in mid-June last year, when the Commission began looking more closely at Apple Pay. The European entity has been concerned about how the iPhone’s tap-and-go system is used in apps and commerce websites and how the tech giant is not very transparent about the tool.

After initial investigations, the regulatory organization began targeting specifically the NFC chip, which is used exclusively in Tim Cook’s company’s payments tool.

The Commission has at least three lawsuits against Apple and can fine the company up to 10% of global sales. Taking into account the brand’s revenue in 2020, the value could reach US$ 27.4 billion (about R$ 150 billion at the current price). Apple even defended itself on the issue citing that it does not release the systems for reasons of privacy and security.

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