Rhythmic.fm
Home » Blog » INDUSTRY NEWS » European Union Hits Google with 5 Billion Fine
INDUSTRY NEWS

European Union Hits Google with 5 Billion Fine

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 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

Related posts

Millennial Minute: Work + Life = Finding the Balance

admin

Ed Lover Embraces Chicago and His New Radio Home 104.3 Jams

admin

Beasley Broadcast Group Announces Proposed Sale Of Shares Of Class A Common Stock

admin

Jermaine Dupri Announces So So Def 25th Anniversary CULTURAL CURREN$Y TOUR

admin

FEAR AND LOATHING IN THE HOMESTRETCH

admin

Grammy Nominee A-List and Award Show Musical Director Adam Blackstone Nominated For His 1st Emmy

admin

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.