FT News Briefing US prosecutors take a bite out of Apple
Mar 22, 2024
US prosecutors have launched a significant antitrust lawsuit against Apple, alleging monopoly practices in the smartphone market. Meanwhile, Reddit's market debut sent its shares skyrocketing by 48%. Hertz is facing challenges with its ambitious shift to electric vehicles, compounded by leadership issues and unexpected costs. The podcast also discusses the broader implications of tightening antitrust enforcement in the tech industry, exploring how these cases may shape competition and innovation.
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Apple Antitrust Lawsuit
- The US Department of Justice sued Apple, accusing it of monopolizing the smartphone market.
- This is the Biden administration's first major antitrust action against Apple.
DOJ's Case Against Apple
- The DOJ claims Apple uses its power to make switching devices harder for consumers.
- They also allege Apple creates contracts that disadvantage developers and stifle innovation.
Examples of Apple's Alleged Anti-Competitive Practices
- The DOJ cited examples like the "green bubble" for Android messages and grainier cross-platform videos.
- They argue this was intentional to discourage competition.