DOJ sues Apple over iPhone monopoly in landmark antitrust case

On Thursday, the Department of Justice filed a lawsuit against Apple, alleging that its iPhone ecosystem constitutes a monopoly, leading to its soaring valuation at the expense of consumers, developers, and competing phone manufacturers.

The government is considering drastic measures, including the potential breakup of one of the world’s largest corporations, as indicated by a Justice Department official during a briefing call, suggesting that structural changes could be imposed if the U.S. prevails.

The lawsuit contends that Apple’s anti-competitive behaviors transcend its iPhone and Apple Watch divisions, encompassing its advertising, browser, FaceTime, and news services.

Following the announcement, Apple’s stock dropped over 4% during Thursday’s trading session, CNBC reported.

READ MORE: https://www.cnbc.com/2024/03/21/doj-sues-apple-over-iphone-monopoly.html

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