Apple agrees to hand India the financials it spent months trying to withhold
For months the fight in India’s App Store antitrust case was not really about app stores. It was about a spreadsheet. The Competition Commission of India wanted Apple’s financial records; Apple did not want to give them up, least of all the global ones. On 3 June, Apple agreed to submit the financials, removing the obstacle that had stalled the long-pending case.
The reason the data mattered so much is the reason Apple resisted it. Under India’s competition law as updated in 2024, penalties can be calculated against a company’s global turnover rather than its revenue inside the country. For most companies that distinction is academic.
For Apple, whose Indian revenue is a sliver of a business that turns over hundreds of billions of dollars worldwide, it is the difference between a manageable fine and an existential one. Apple has said it fears a penalty of up to $38bn, a...
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