Apple faces potential EU fine under Digital Markets Act this month

Apple could face the first-ever fine under the Digital Markets Act in the EU as soon as this month, according to a report from Bloomberg. The report comes after a similar one from the Financial Times in June, which said the fine could be as high as 5% of Apple's "average daily worldwide turnover," amounting to over $1 billion.

The European Commission could still unleash the penalty before EU competition commissioner Margrethe Vestager leaves office later this month. However, the decision has not yet been finalized and there is a chance it could be pushed back to later this year.

Apple unveiled its initial DMA compliance plans in January and rolled them out with iOS 17.4 in March, which included a significant reduction in App Store commissions.