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Wednesday, March 23, 2022
Apple (AAPL) may soon be forced to loosen its vice-like grip on its App Store, as regulators from the U.S. to South Korea zero in on the tech giant’s high-margin business.
Developers ranging from Spotify (SPOT) to “Fortnite”-maker Epic have railed for years against the so-called Apple tax, a 30% fee Apple charges larger developers on app sales. Those efforts could soon pay off, if Apple wants to keep doing business in the European Union: The EU is expected to approve its Digital Markets Act (DMA), a landmark piece of legislation that should free developers from Apple’s fees.
And that could cost Apple billions.
