Apple (AAPL) Fined in Taiwan Over iPhone Pricing Control
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Price: $279.92 -4.49%
Overall Analyst Rating:
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EPS Growth %: +20.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +20.4%
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Apple (Nasdaq: AAPL) was fined about NT$50 million in Taiwan over iPhone pricing practices.
According to Bloomberg, the Taiwan Fair Trade Commission slapped Apple with the $670,000 fine over the company's requirement that Taiwan telecommunications operators get permission from the company for iPhone prices. The commission stated,
The ruling applies to iPhones only. Distributors in Taiwan include Chunghwa Telecom, Far EasTone, and Taiwan Mobile.
Apple is indicated higher Thursday morning.
According to Bloomberg, the Taiwan Fair Trade Commission slapped Apple with the $670,000 fine over the company's requirement that Taiwan telecommunications operators get permission from the company for iPhone prices. The commission stated,
Through the email correspondence between Apple and these three telecom companies we discovered the companies submit their pricing plans to Apple to be approved or confirmed before the products hit the market.
The ruling applies to iPhones only. Distributors in Taiwan include Chunghwa Telecom, Far EasTone, and Taiwan Mobile.
Apple is indicated higher Thursday morning.
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