The
European Union has issued a hefty $2.7 billion fine against tech giant Google.
The European Commission for
Competition said in a statement on Tuesday, that the fine was administered
because Google has given “an illegal advantage” to itself over its competitors.
The company holds a 90 per cent market share in Europe’s online
searches.
Commissioner Magrethe Vestager,
said Google has “abused its market dominance as a search engine” because it has
“denied other companies the chance to compete.”
When users surf the internet for
goods through Google’s search engine, they are more likely to encounter results
from its “own comparison shopping
centre services,” said Ms. Vestager in a tweet.
Most importantly, she said
Google’s market strategy for comparison shopping has prevented consumers from
access to genuine choices when they shop using its search engine. The commission
says this is illegal under the EU’s fair play laws.
As a result of this, Google has been given 90 days to give “equal treatment” to
its competitors, or suffer the consequences of penalty fines.
Kent Walker, Google’s senior vice
president and general counsel said in a statement released Tuesday, that they “respectfully disagree
with the conclusions announced” by the commission.
He also said Google’s ability to
efficiently provide users what they want is “the result of hard work and
constant innovation.”
Google said it
will “review the commission’s decision in detail” as they consider an appeal.
Source: Premium Times
No comments:
Post a Comment
Contact Us
Email: publisher@absolutehearts.com
Phone/whatsapp: +2348027922363