EU Fines Apple and Meta Over Market Domination

The European Union (EU) has levied hefty fines on tech giants Apple ($570 million) and Meta ($227 million) for allegedly violating its Digital Markets Act (DMA), aiming to level the playing field for smaller companies in a market dominated by Big Tech. The unprecedented penalties follow an investigation into whether these firms complied with the DMA, which seeks to foster competition by opening doors for new players. 2023 saw the implementation of this crucial legislation, prompting these high-profile enforcement actions.