Apple Set To Face Setback If EU Plans For A New Rule Go As Expected Tomorrow

European Union countries and lawmakers could agree on a common charging port for mobile phones as early as Tuesday, a move expected to take toll on Apple Inc AAPL.

What Happened: The agreement on the common charger could come at the second and final trilogue to be held Tuesday between EU countries and lawmakers, reported Reuters, citing people familiar with the matter.

An outstanding issue is broadening the scope of common chargers to laptops, a move demanded by EU lawmakers, according to Reuters.

EU lawmakers also reportedly want wireless charging to be harmonized by 2025, while EU countries and the Commission want to allow for more time for technical reasons.

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Why It Matters: The executive arm of the EU, the European Commission, wants all smartphones to use the USB-C port for physical charging.

Apple said last year about the proposed rule, “We believe regulation that forces conformity across the type of connector built into all smartphones stifles innovation rather than encouraging it and would harm consumers in Europe and the economy as a whole.”

Apple’s iPhones use the company's proprietary lightning port, while Android devices running on the operating system made by Alphabet Inc GOOGL GOOG use the USB-C port.

Apple has pushed back against the EU proposal that poses a setback for the Tim Cook-led tech giant. 

The move was considered based on claims of environmental benefits and $293 million in annual savings for users, according to an earlier report.

Price Action: On Friday, Apple shares closed 3.9% lower at $145.38 in the regular session and dropped another 0.1% in the after-hours trading, according to data from Benzinga Pro.

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