The Rise of the “Magnificent Seven”: Apple faces legal battle over smartphone monopoly
The Department of Justice and state attorneys are taking on Apple in a legal battle over its alleged monopolistic practices in the smartphone market. The lawsuit accuses Apple of stifling competition, hindering innovation, and discouraging users from choosing rival devices.
This latest case goes beyond just the smartphone market, highlighting various instances where Apple has supposedly hindered competitors to maintain its dominance. Examples include blocking super apps, restricting access to cloud-based gaming apps, and providing subpar service for rival gadgets like smartwatches.
As the tech industry continues to evolve, the dominance of big players like Apple may only increase, especially with the rise of generative AI. The top tech companies, known as the “Magnificent Seven,” have seen a significant increase in market value, thanks in part to the AI boom.
Source: The Economist https://www.economist.com/business/2024/03/22/the-department-of-justice-wages-war-on-apple
