Apple’s €1.1 Billion French Antitrust Fine Slashed by 66% (4)

Apple Inc. won a €728 million-euro ($715 million) reduction to the record €1.1 billion penalty it was hit with in 2020 for anti-competitive agreements with two favored distributors.

The Paris court of appeals reduced Apple’s total fine on Thursday to about €371.6 million after judges decided to trim the duration of one of the infringements and lower the increases applied to the penalty that took into account the firm’s economic power.

“The 90% multiple is disproportionate,” the court said in its ruling. “A 50% multiple is sufficient to guarantee that the penalties are repressive and dissuasive.”

France’s competition arm has …