Apple Agrees to Open iOS App Stores in Brazil After Antitrust Case [Yahoo! Finance]
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Source: Yahoo! Finance
app stores and alternative payment methods as part of a settlement with the country's antitrust regulator. Is AAPL fairly valued? Test your thesis with our free DCF calculator. Brazilian competition body CADE said its internal panel accepted Apple's proposal, ending a three-year dispute. Apple will allow developers to connect to other websites and utilize outside payment methods for in-app sales under the arrangement. Once developers must comply, the modifications will take effect. CADE gave Apple 105 days to comply with the new standards or risk a 150 million reais ($27 million) penalties. The deal lasts three years. Apple will comply with the judgment but warned that exposing iOS to outside app stores and payment systems might compromise user privacy and security. Though it cannot remove such dangers, the corporation has taken efforts to mitigate them. A 2022 lawsuit from MercadoLibre charged Apple of hindering competition in digital goods delivery and payments on iOS devi
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