Apple Inc was compelled to make significant changes to the way they generate money from its App Store, according to a report by Yahoo Finance on Friday.
- A federal judge stated on Friday that Apple must allow developers of mobile applications direct consumers to outside payment methods, allowing an injunction sought by Epic Games Inc.
- The adjustments ordered by U.S. District Judge Yvonne Gonzalez Rogers arrives as Apple continues to face global pressure from regulators and litigation to open the App Store to competition.
- The court order goes deeper than the modest concessions Apple has made recently and threatens to erode the grip of the profit the App Store makes by charging a 30% commission on transactions.
- Gonzalez Rogers concluded that Apple Inc has taken part in anticompetitive conduct that hurts consumers by preventing them from getting cheaper prices.
The decision is a significant setback for the world’s most valuable company as tech giants face scrutiny from regulators and lawmakers worldwide over their role as gatekeepers to the digital economy. AAPL closed down -3.31%