Apple Slammed With Fine In Taiwan For Price Restrictions

Apple has been hit with a fine in Taiwan over trying to restrict the price of the iPhone in the market. The fine comes after Apple was putting pressure on carriers in Taiwan to get its permission before setting the price of the iPhone within the country. The pricing pressure by Apple forced the Taiwan FTC to take action.

The Taiwan Fair Trade Commission hit Apple with a fine of $666,700 for trying to control the price of the iPhone in the Taiwanese market. In Taiwan, trying to exert price control over a product after selling the distribution rights is illegal.

While $666,700 is a lot of money, it's not a massive fine to a company with billions sitting in the bank. Apple's Asian arm also got into hot water over trying to tell the carriers to change service contract prices along with subsidy amounts.

Apple tried these tactics with three carriers in Taiwan including Chunghwa Telecom Co Ltd, Taiwan Mobile Co Ltd and Far EasTone Telecommunications Co Ltd. The $666,700 fine works out to T$20 million in local currency. Earlier this year Apple competitor Samsung was fined in Taiwan for misleading ads.

SOURCE: Austrian Tribune