Apple is first to suffer and could face huge fine under new EU rules

Apple is first to suffer and could face huge fine under new EU rules

Apple is set to face a new huge fine from the European Commission later this year. The new penalty is being handed out because the iPhone maker has harmed competition with its rules for app makers in the App Store. It will be the first fine under the EU's new, strict DMA rules.

Apple will be fined in the coming weeks for violating the EU's Digital Markets Act (DMA). EU regulators are currently preparing the fine for Apple, sources told both Reuters and Bloomberg. The fine, which could run into billions of euros, is being imposed because Apple did not allow app developers to direct iPhone and iPad users to cheap deals and offers outside the App Store.

In March, the European Commission also fined Apple €1.8 billion for abusing its power in the App Store, which it used to hinder competing music services such as Spotify. That fine did not fall under the DMA, but under the old rules. However, the new law allows for an even higher fine of 10 percent of global annual turnover.