Home INDUSTRY NEWS European Union Hits Google with 5 Billion Fine

European Union Hits Google with 5 Billion Fine

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Almost half of Google’s 2017 profit (12.6 billion) could be slashed by a record $5.1 billion fine that has hit the internet behemoth by the European Union for antitrust violations. The EU is stating Google is dominating the position for general internet searches on handheld devices. Google says it plans to appeal the decision.

The fine is greatly attributed to Android phones that are preloaded with Google apps giving Google an unfair advantage over other search engines the EU alleges. These advantages have not allowed competitors to be innovative, EU Competition Chief Margrethe Vesager states. See video below

EU FINES GOOGLE $5B

Today, we fined Google €4.34 billion for breaching EU antitrust rules.
Where does the money go? Commissioner @vestager explains how antitrust fines are collected and used ↓ pic.twitter.com/RJrx4hoTU2

— European Commission 🇪🇺 (@EU_Commission) July 18, 2018

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