EU launches investigations into tech giants for possible breaches of Digital Markets Act

The European Union has initiated investigations into major tech companies, including Alphabet (Google’s parent company), Meta (formerly Facebook), and Apple, for potential violations of the Digital Markets Act (DMA) introduced in 2022.

If these companies are found guilty of breaching the regulations, they could face substantial fines amounting to up to 10% of their annual revenue.

EU’s antitrust chief Margrethe Vestager and industry leader Thierry Breton announced the investigations on Monday, signaling a proactive stance on enforcing competition rules in the tech sector.

This move follows the EU’s recent €1.8 billion fine imposed on Apple for violating competition laws related to music streaming, highlighting the EU’s ongoing efforts to ensure fair competition and market practices in the digital space.

Source-BBC