EU Hits Apple and Meta with €700 Million Fines in Digital Market Showdown

Tech giants Apple and Meta are facing substantial fines from the European Union, amounting to a total of 700 million euros. These penalties come as a result of alleged violations of the EU's Digital Markets Act (DMA). Apple has been fined 500 million euros for reportedly failing to inform users about applications outside of its App Store. The EU claims Apple's terms obstruct users from downloading apps from alternative sources, violating EU regulations. Following Apple's modifications to its browser choice interface, the investigation into Apple's browser options was terminated.

Meta, on the other hand, is penalized with a 200 million euros fine due to its controversial "agree or pay" advertising model. The EU's stance on possibly taxing these companies through fines is seen as a threat by the tech firms, prompting them to take immediate action in compliance within two months, or else face daily fines. Apple plans to appeal its fine, arguing that the EU's decision adversely affects user privacy and security. Meta accuses the EU of attempting to weaken American companies, claiming these regulatory measures force them to provide subpar services.