China’s market regulator is considering whether to open a formal probe into the iPhone giant’s App Store fees and policies, Bloomberg reported.China’s market regulator is considering whether to open a formal probe into the iPhone giant’s App Store fees and policies, Bloomberg reported.
Shares of Apple were down 2.6% at 09:06 a.m. London time in premarket trading.
The State Administration for Market Regulation (SAMR) is looking into policies that include Apple taking a cut of as much as 30% on in-app spending, as well as blocking third-party payment services and app stores, Bloomberg reported Wednesday, citing people familiar with the matter.
China’s market regulator has not decided whether to formally open an investigation into Apple, according to the report.
Apple and China’s Ministry of Commerce was not immediately available for comment when contacted by CNBC.
This is a breaking news story. Please check back for more.
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