Apple fined a record $1.2 billion by French antitrust authorities

CNBC:

French antitrust authorities ordered Apple on Monday to pay a 1.1 billion euro ($1.23 billion) fine for anti-competitive behavior.

The French competition authority said the iPhone-maker was guilty of creating cartels within its distribution network and abusing the economic dependence of its outside resellers.

And:

“Apple and its two wholesalers agreed not to compete and prevent distributors from competing with each other, thereby sterilizing the wholesale market for Apple products,” said Isabelle de Silva, president of the French Competition Authority.

Apple’s response:

“The French Competition Authority’s decision is disheartening. It relates to practices from over a decade ago and discards 30 years of legal precedent that all companies in France rely on with an order that will cause chaos for companies across all industries. We strongly disagree with them and plan to appeal.”

Hard to imagine this fine standing as is.