Apple to submit its Indian financials to competition watchdog
What's the story
Apple has agreed to submit the financials of its Indian operations to the Competition Commission of India (CCI). The move comes as part of an investigation that found the tech giant had abused its market position. The decision brings this long-pending case closer to a possible penalty decision, according to a confidential CCI order seen by Reuters.
Market impact
iPhone's market presence in India
The case is Apple's biggest regulatory challenge in India, a key growth market where it has rapidly expanded iPhone production. The iPhone now holds 9% of India's smartphone market, up from about 2% five years ago, according to Counterpoint Research data. The CCI's investigation found in 2024 that Apple exploited its dominant position in the iPhone apps market.
Legal proceedings
Apple has denied any wrongdoing
Apple has denied any wrongdoing and said it would contest the findings. The company also refused to provide details of its finances. At a May 21 hearing, Apple's lawyer requested a "final extension" until June 25 to file its "India-specific financial information." The CCI granted this request, according to the order.
Legal strategy
Apple's challenge to antitrust penalty law
Apple has long maintained that the case should be paused as it is separately challenging India's new antitrust penalty law. The law allows the CCI to penalize companies based on their global, not just Indian, turnover. Apple contends that the CCI had asked for global financial details, which could lead to a fine of up to $38 billion.
Case progress
Case against Apple filed in 2021
The CCI has repeatedly disagreed with Apple's position, saying it only needed Apple's India financials to start with. The commission believes that Apple is trying to delay the case through a parallel court challenge. A judge last month told Apple to "cooperate." The case against Apple was filed in 2021 by Tinder-owner Match and Indian start-ups under the Alliance of Digital India Foundation (ADIF).