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Spain fines Apple and Amazon €194M for colluding to restrict competition (thenextweb.com)

submitted 1 year ago by kjr@kbin.social to c/tech@kbin.social

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Amazon and Apple were found guilt of colluding to limit the sale of Apple products by third-party sellers on the huge online retail platform.

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[–] frasassi@kbin.social 7 points 1 year ago* (last edited 1 year ago)

That’s a rounding error on their P&L

[–] FJW@discuss.tchncs.de 6 points 1 year ago (1 children)

For context: Amazon has a market-capitalization of almost 1.4 Trillion USD and Apple one of over 3 Trillion USD.

AKA: This is a slap on the wrist that would have required two or three more zeroes to be actually painful.

[–] spriteblood@kbin.social 4 points 1 year ago

Statista says:

In 2022, Amazon's total consolidated net sales revenue amounted to 514 billion U.S. dollars

Their part of the fine is about $56.7 million, making it about 0.01% of that amount.

In US minimum wage terms, that's working full time for a year and then having to pay about $1.50.

[–] banana_meccanica@feddit.it 4 points 1 year ago

Always fucking stupid how low are this fines. They should fine them up to 30 billions.

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