Less than 20 minutes ago, the whopping news broke that the European Union has fined Google $5 billion €4,34 bn over antitrust and competitive laws around Android. Margrethe Vestager, the European Commissioner for Competition wrote on Twitter that it is time Google stop these practices and this will make them.
Fine of €4,34 bn to @Google for 3 types of illegal restrictions on the use of Android. In this way it has cemented the dominance of its search engine. Denying rivals a chance to innovate and compete on the merits. It’s illegal under EU antitrust rules. @Google now has to stop it
— Margrethe Vestager (@vestager) July 18, 2018
The European Commission ordered Google to end the illegal practices within 90 days or face additional penalties of up to 5 percent of parent Alphabet’s average daily worldwide turnover.
Google currently has $102.88B in cash on hand, so this is affordable but it is a huge record breaking dollar figure for a fine. Previously, Google was fine €2.42 billion in 2017 and this is about twice that amount.
Of course, Yelp is satisfied with this.
I am sure Google will fight this some how.
Update: Here is Google’s statement, “Android has created more choice, not less.”
Forum discussion at Twitter.