Saudi Press

Saudi Arabia and the world
Saturday, Feb 22, 2025

Apple shares fall after new ruling in Epic Games fight

Apple shares fall after new ruling in Epic Games fight

Court could not ultimately conclude Apple is a monopolist under federal or state antitrust laws

Apple shares dipped more than 2% after the tech giant was hit with an injunction on Friday in the company's legal battle with Fortnite creator Epic Games.

The injunction, from judge Yvonne Gonzalez Rogers, will allow developers who use the company's App Store to put "buttons, external links, or other calls to action" within their apps and metadata that "direct customers to purchasing mechanisms, in addition to In-App Purchasing."

Apple can also no longer prohibit developers from communicating with customers through points of contact obtained voluntarily through account registration within apps.


The order, which will take effect in December, comes after Epic Games announced plans to implement its own in-app payment system in the popular video game last year to avoid paying Apple a 30% commission fee. In response to the move, Apple removed Fortnite from its App Store and restricted access to its iOS developer account. Epic fired back with an antitrust lawsuit, accusing Apple of using its App Store to stifle competition and maintain a monopoly over the app market.

Apple won on nine of 10 counts but was found to engage in anticompetitive conduct under California's Unfair Competition law.

"The Court concludes that Apple’s anti-steering provisions hide critical information from consumers and illegally stifle consumer choice," Rogers wrote in the ruling. "When coupled with Apple’s incipient antitrust violations, these anti-steering provisions are anticompetitive and a nationwide remedy to eliminate those provisions is warranted."

However, Rogers emphasized the court could not ultimately conclude Apple is a monopolist under federal or state antitrust laws.

"While the Court finds that Apple enjoys considerable market share of over 55% and extraordinarily high profit margins, these factors alone do not show antitrust conduct," Rogers added. "Success is not illegal."

In addition, Rogers ruled that Epic must pay 30% of all revenue collected through Fortnite's direct payment system since August 2020.


Prior to the ruling, Apple shares were trading at an all-time high of $154.30 per share.

Apple said it is "very pleased" with the court's ruling, which it considers to be a "huge win."

"This is a resounding victory and underscores the merit of our business both as an economic and competitive engine," Apple general counsel Kate Adams said in a statement.


Meanwhile, an Epic Games spokesperson confirmed to FOX Business that the company plans to appeal the ruling.

"Today's ruling isn't a win for developers or for consumers. Epic is fighting for fair competition among in-app payment methods and app stores for a billion consumers," Epic CEO Tim Sweeney tweeted. "Fortnite will return to the iOS App Store when and where Epic can offer in-app payment in fair competition with Apple in-app payment, passing along the savings to consumers."

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Arabia and the United States Strengthen Ties Amid Global Developments
Saudi Arabia Hosts Global Conference to Promote Islamic Unity
The Impact of Artificial Intelligence on Education and Child Development
Saudi Arabia Announces Competition for Best Founding Day Outfits
Saudi-EU Food Security Officials Hold Talks to Strengthen Collaboration
Putin Expresses Gratitude to Saudi Crown Prince for Hosting US-Russia Talks
UK and Saudi Arabia Enhance Collaboration in Innovation and Technology
Denmark's Embassy in Riyadh Showcases Danish Cuisine with Saudi Influence
Saudi Artist Salman Al-Amir Unveils 'Tafawut' Exhibition in Riyadh
Saudi Arabia Offers Condolences to Kuwait Following Military Exercise Fatalities
Saudi Ministry of Islamic Affairs Completes Ramadan Preparations in Madinah
Etidal Secretary-General Hosts UN Counter-Terrorism Director in Riyadh
ADNOC Drilling Targets Over $1 Billion in Investments for 2025 Amid Gulf Expansion Plans
Derayah Financial Achieves Remarkable Growth in Saudi Brokerage and Asset Management
Saudi Arabia Shortlists 30 Firms for Mining Licenses in Eastern Province and Tabuk
Saudi Foreign Minister Engages Counterparts at G20 Meeting in Johannesburg
Oil Prices Decline Amid Rising US Inventories
Saudi Arabia's NDMC Plans Green Bond Issuance by 2025
Moody’s Affirms Egypt’s Caa1 Rating Amid Positive Economic Outlook
Oman and Saudi Arabia Strengthen Economic Ties with New Agreements
Saudi Arabia Investments Propel Expansion of Qurayyah Power Plant
Saudi Capital Market Authority Advances SPACs and Direct Listings
Global Energy Leaders Gather in Riyadh for Symposium on Energy Outlooks
Al-Ahsa Region Sees 500% Growth in Tourism as Saudi Arabia Prioritizes Development
Saudi Arabia Advances Entrepreneurial Ecosystem in Al-Ahsa with New Agreement
King Salman Approves Official Saudi Riyal Symbol
Saudi Credit Card Lending Reaches $8.4 Billion Amid Digital Payment Expansion
King Salman Approves Official Symbol for Saudi Riyal
Putin Thanks Saudi Crown Prince for Facilitating U.S.-Russia Discussions
Saudi Foreign Minister Attends G20 Meeting in Johannesburg
Saudi Arabia Prepares for Nationwide Founding Day Celebrations
Inauguration of Hira Park and Walkway Enhances Jeddah's Urban Landscape
Crown Prince Hosts Leaders for Informal Meeting in Riyadh Amid Gaza Rebuilding Plans
Saudi Official Highlights Achievements and Media's Role in National Transformation
Three Expatriate Women Arrested for Prostitution in Riyadh
Saudi Arabia's Diplomatic Evolution Highlighted at Saudi Media Forum
Healthy Eating and Preparation Essential for Ramadan Fasting
Saudi Arabia and Japan Forge Sustainable Textile Partnership
Advanced Limb Surgery Restores Mobility in Pediatric Cancer Patient
Jeddah Event Explores AI's Role in Boosting Saudi Arabia's SME Sector
UN Representative Highlights AI's Role in Perpetuating Gender Stereotypes
Saudi and Jordanian Leaders Discuss Enhanced Security Cooperation in Amman
Saudi British Society Honors Cultural Bridge-Builders at London Gala
Saudi Media Forum 2025 Explores AI's Role in Modern Journalism
Saudi Arabia's Saqer Al-Moqbel Appointed as WTO General Council President for 2025–2026
Saudi Deputy Ministers Engage in Diplomatic Discussions with U.S. and Dutch Officials in Riyadh
Saudi Arabia to Launch Iftar Program in 61 Countries During Ramadan
Saudi Visitors Expected to Spend £942 Million in UK During 2025
Saudi Arabia Gifts Kaaba's Kiswah to Uzbekistan's Center of Islamic Civilization
Digital Cooperation Organization Concludes Fourth General Assembly with Multiple Agreements
×