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Tech Giants

Apple agrees to hand India financials to antitrust regulator

by TechDefused Newsroom
The image depicts two individuals standing on a balcony overlooking an Apple retail store entrance, highlighted by a large illuminated Apple logo. The monochromatic color scheme emphasizes the modern architectural design of the store. — Credit: Photo by Zhiyue / Unsplash cPhoto by Zhiyue / Unsplash
Photo by Zhiyue / Unsplash

Apple agreed to submit the financial records of its India unit to the Competition Commission of India, a step that moves the long-delayed antitrust probe nearer to a potential penalty decision.

The concession follows a dispute over whether the CCI could demand global turnover data and comes as iPhones have grown to about 9% of India’s smartphone market from roughly 2% five years ago.

A judge last month told Apple to "cooperate" with the process, the hearing transcript shows.

A confidential CCI order reviewed by Reuters said Apple’s lawyer asked the commission at a May 21 hearing for a final extension until June 25 to file “India-specific financial information” and the commission granted the request.

Apple has resisted providing financial details since 2024 and sought to pause the case while it challenges a new Indian law that allows penalties based on global turnover, arguing the CCI had sought worldwide figures that could underpin a fine of up to $38 billion.

The CCI has said it only required India financials to begin penalty calculations and accused Apple of using a parallel court challenge to delay the process.

The case, opened in 2021 by a mix of startups, a non-profit and Match, targets Apple’s App Store rules and an investigation finding from 2024 called the App Store an "unavoidable trading partner"; Apple denies wrongdoing and plans to contest the findings.

Apple is due to file the India-specific financial information by June 25.

by TechDefused Newsroom