Apple Seeks To Prevent India’s Antitrust Regulator From Accessing Global Financial Records As It Fears A $38 Billion Fine: Report

• Apple has been under a CCI investigation over allegations of “abusive conduct” over its App Store policies.
• The investigation was launched following complaints from several Indian startups as well as Tinder-owner Match Group.
• The complaints stated that Apple charges a high commission from developers for in-app purchases for apps and games in the App Store.

Apple Inc. (AAPL) has reportedly asked an Indian court to prevent the country’s antitrust regulator from obtaining the iPhone maker’s global financial records.

According to a Reuters report, Apple stated that being forced to comply with the Competition Commission of India’s (CCI) demands for its financial records would defeat the company’s primary challenge against the penalty rules.

The company fears that it could be fined up to $38 billion if the CCI uses Apple’s global turnover to calculate the antitrust penalties.

Apple shares were up more than 1% in Thursday’s pre-market trade. Retail sentiment on Stocktwits around the company was in the ‘neutral’ territory.

What Is The Case About?

Apple has been under a CCI investigation over allegations of “abusive conduct” over its App Store policies. The investigation was launched following complaints from several Indian startups as well as Tinder-owner Match Group Inc. (MTCH).

The complaints stated that Apple charges a high commission from developers for in-app purchases for apps and games in the App Store. While the CCI’s final order is yet to be delivered, Apple has moved the Delhi High Court to prevent the regulator from obtaining its financial records.

CCI’s Warning To Apple

Last week, the CCI warned Apple that it will proceed unilaterally in the case if the company does not produce the financial records sought by the regulator.

The CCI had also asked Apple in 2024 to file its objections to the findings of the investigation, but the iPhone maker has sought “repeated extensions,” according to a Reuters report.

“The Commission is of the considered view that repeated extensions, despite unambiguous directions, undermine procedural discipline and impede the timely conclusion of proceedings. Such indulgence cannot be continued indefinitely,” CCI said in its order dated Dec. 31, 2025, according to the report.

AAPL stock is down 9% year-to-date, but up 11% over the past 12 months.

Also See: BABA Rises 5% Pre-Market On Reported AI Chip Unit IPO Plans — Retail Bulls Say 'Let’s Continue The Rally'

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on