Oct. 22 (UPI) -- Britain's competition regulator on Wednesday took aim at Google and Apple as the government agency flagged the two business giants under its highest designation as nearly too powerful to control.
The British government's Competition and Markets Authority placed the two companies under its "strategic market status," in effect saying their power over mobile platforms warranted regulatory intervention due to Apple and Google's power over their business market.
"The app economy generates 1.5% of the U.K.'s GDP and supports around 400,000 jobs, which is why it's crucial these markets work well for business," according to Will Hayter, the CMA's executive director for digital markets.
It labels the two companies with "substantial and entrenched market power" and a "position of strategic significance" that "may be limiting innovation and competition" on digital activity in Britain.
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