A confidential ruling document from India's Competition Commission (CCI) has disclosed that Apple has agreed to submit its financial data in India. Such data is typically required by regulators for the purpose of calculating fines. The document highlighted that during a hearing on May 21, Apple's legal representatives applied to the CCI for an extension of the deadline to submit 'financial information specific to India' until June 25. After careful consideration, the CCI granted this extension request.
Earlier, the CCI concluded in its 2024 investigation that Apple had misused its dominant market position in the iPhone app market (App Store). Apple refuted this accusation and declared its intention to contest the investigation's findings, having previously declined to provide financial particulars. For an extended period, Apple has been pushing for the suspension of the case, as the company is attempting, through judicial means, to overturn India's new antitrust penalty law. This law empowers the CCI to levy penalties based on a company's global revenue, rather than solely its Indian revenue. Apple contended that the CCI had demanded global financial details from it, which could potentially lead to fines of up to $38 billion. The CCI refuted this assertion, clarifying that at this juncture, it only requires Apple to furnish local financial data in India, and accused Apple of employing litigation tactics to prolong the case. Last month, a judge mandated Apple to 'cooperate fully with the investigation'.
