Chinese app developers file antitrust complaint against Apple

Services brought in US$7.3bil in revenue for Apple in the three months through July 1. — Reuters

Services brought in US$7.3bil in revenue for Apple in the three months through July 1. — Reuters

A busy legal year for Apple Inc.

The report says that a group of 28 Chinese app developers have filed a complaint against Apple for violating local antitrust regulations in relation to its App Store.

Apple has been facing multiple challenges in China.

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The P/E ratio is 325.12 and market capitalization is 4.20B. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that cover GoDaddy .

The complaint was lodged by Dare & Sure Law Firm in Beijing, who told Reuters on Thursday that they had invited the developers to join in on the case last April, though the firm declined to provide details on the parties involved.

Apple started a worldwide crackdown on what it sees as illegitimate apps earlier this year, and removed 58,000 Chinese apps in one swoop in June, according to tech research firm ASO 100.

The US company is also accused of taking a different approach on complaints from China than it does on those from the United States, as well as preventing in-app purchases via a third-party payment tool.

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Apple Inc, an American multinational technology company headquartered in Cupertino, has denied accusations of treating Chinese developers unfairly and stated iOS App Store guidelines apply equally to all developers across the globe.

The two government agencies didn't respond to a request for comment on whether they intend to investigate the claims.

Apple said, in a reply to China Daily, more than 1.8 million people work on its App Store ecosystem in China, and the company invests a tremendous amount of resources providing advice and training for entrepreneurial developers.

Macquarie Upgrades Baidu, Inc
On October 31 the company was downgraded from "Outperform" to "Neutral" with a current price target of $173.00 by Macquarie. The fund owned 1,230 shares of the information services provider's stock at the end of the second quarter.

Apple's China App Store is its most profitable store globally, despite being subject to strict censorship controls that have pressured the firm to recently remove dozens of apps. The key is whether Apple will be considered to have a dominant market position in the relevant market. The dispute is very likely to be settled after private discussions, Li said.

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