BUSINESS / Companies

Apple accused of monopolizing smartphone markets in U.S. antitrust lawsuit

Dating back to its time as a marginal player in the personal computer market, Apple's business model has long been based on charging users a premium for technology products where the company dictates nearly all of the details of how the device works and can be used. | Bloomberg

Reuters

Mar 22, 2024

The U.S. Department of Justice and 15 states on Thursday sued Apple as the government cracks down on Big Tech, alleging the iPhone maker monopolized the smartphone market, hurt smaller rivals and drove up prices.

Apple joins competitors sued by regulators, including Alphabet's Google, Meta Platforms and Amazon across the administrations of both former President Donald Trump and current President Joe Biden.

"Consumers should not have to pay higher prices because companies violate the antitrust laws," Attorney General Merrick Garland said in a statement. "If left unchallenged, Apple will only continue to strengthen its smartphone monopoly."

Apple accused of monopolizing smartphone markets in U.S. antitrust lawsuit

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