British Antitrust Watchdog Comes After Apple, Google: All You Need To Know

Britain's antitrust body looked to probe the market dominance of Apple Inc AAPL, Alphabet Inc GOOG GOOGL Google's mobile browsers.
The Competition and Markets Authority's (CMA) probe also encompassed the iPhone maker's restrictions on cloud gaming through its app store.
The CMA also took enforcement action against Google over its app store payment practices.
The CMA claimed that the two tech giants had an "effective duopoly" on mobile ecosystems enabling them to influence operating systems, app stores, and web browsers on mobile devices, eliminating contenders, holding back the British tech sector, and limiting choice.
"When it comes to how people use mobile phones, Apple and Google hold all the cards," CMA asserted.
The CMA claimed that in 2021, Apple's or Google's browser engine powered 97% of all mobile web browsing in Britain, and Apple banned alternatives to its browser on iPhone.
The CMA expressed concerns over Apple blocking the prospects of cloud gaming services by streaming high-quality games.
Apple and Google emphasized their credibility and service quality, making them popular choices. They also assured their continued cooperation with the CMA.
The CMA would further assess its concerns with potential legally binding orders on Apple's and Google's practices.
Price Action: AAPL shares traded lower by 3.30% at $137.94 on the last check Friday.
Image by Okan Caliskan from Pixabay