: Italian antitrust fines Amazon for 1.128 bn Euros over abuse of market dominance #IndiaNEWS #Ecommerce Today, December 9th, the Italian Competition and Market Authority (AGCM) announced on its official

Italian antitrust fines Amazon for 1.128 bn Euros over abuse of market dominance #IndiaNEWS #Ecommerce
Today, December 9th, the Italian Competition and Market Authority (AGCM) announced on its official website that the agency will sanction Amazon 1.128 billion euros for abusing its market position. According to the Italian Competition and Market Authority, Amazons service and logistical methods have affected other market participants.

Its worth noting that Amazon and Apple were fined more than 200 million euros (225 million dollars) by the Italian competition regulator last month.

On the grounds that the limits they imposed, which imposed fines on sellers of Apple and Beats items, violated EU legislation, the regulator ordered Apple to pay 134.5 million euros and eCommerce giant Amazon to pay 68.7 million euros.

Then both Apple and Amazon have stated that they intend to appeal the penalty. Amazon stated in a second statement that it strongly disagrees with the Italian authoritys decision and that the proposed fine is disproportionate and unwarranted.

We reject the suggestion that Amazon benefits by excluding sellers from our store since our business model relies on their success. As a result of the agreement, Italian customers can find the latest Apple and Beats products on our store, benefiting from a catalog that more than doubled, with better deals and faster shipping. Amazon

While Apple in denying the wrongdoing said: To ensure our customers purchase genuine products, we work closely with our reseller partners and have dedicated teams of experts around the world who work with law enforcement, customs, and merchants to ensure only genuine Apple products are being sold.