EU regulator hits Google with a record $5 billion fine

Written by on July 18, 2018 in Business - Comments Off on EU regulator hits Google with a record $5 billion fine

The European Union’s antitrust regulator fined Google a record $5 billion on July 18 for illegally exploiting the powerful market share position of its Android smartphone system.

The EU antitrust regulator concluded that Google, whose Android system operates more than 80 per cent of the world’s smartphones, abused its dominant position to promote its own apps and services, especially the company’s search engine.

The fine represents just over two weeks of revenue for Google’s parent company, Alphabet Inc., but it could escalate a brewing trade war between the EU and the US. EU antitrust chief Margrethe Vestager denied anti-US bias influenced the decision.

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