Appple under investigation in Russia over unfair competition

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Apple under investigation in Russia after the Russian company Kaspersky Lab filed a complaint to the Russian anti-monopolizing agency.

Kaspersky Lab filed a complaint that Apple is using its market monopoly for its gains. The whole incident started with the release of the new Safe Kids application by the Kaspersky Labs. However, this application was not approved by Apple’s operating system and this caused huge problems in its functionality.

Safe Kids is a parental control mobile application which enables parents to monitor and access their kids’ mobile devices. However, things changed once Apple released their app called Screen Time which basically has the same functions as Safe Kids by Kaspersky Lab. Now it is easy to see why Apple is in under investigation.

In another twist, Apple had already released a statement saying that certain monitoring and parental control applications were removed as they put client’s privacy in danger.

Apple may not have intended to use it for market monopolization. Apple also stated that these apps utilize highly invasive technology known as MDM or Mobile Device Management. As such the App did not follow the policies laid down by the Apple App Store.

Where does Apple stand in the market?

Apple recently unveiled the revenues for Q3. As the date closed in analysts and critics laid down their predictions with an average of about fifty-three billion dollars ($53.4B) earned.

However, Apple shocked everyone as it managed to go higher than that and raked in fifty-three billion dollars ($53.4B). This means that the stock price is bound to rise higher.

The AAPL stock price rose by more than four percent (4%) while the stock is seeing constant growth. The stocks rose from one hundred and ninety dollars ($192) to two hundred and one dollars ($201) across the last four days.

Regardless, Apple is seeing a decline in its iPhone sales as revenues decrease from twenty-six and a half billion dollars ($26.54B) to almost twenty-six billion dollars ($25.99B). Although this may seem like a little number gap it makes a difference of over half a billion dollars. Although the CEO released a positive statement only time will tell where the company is headed.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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