Apple Inc (NASDAQ: AAPL) is drawing flak from Spotify Technology SA (NYSE: SPOT) over concerns of anti-competitive behavior. What Happened: Spotify is unhappy over the launch of the iPhone manufacturer’s services bundle and asking competition authorities to intervene.

“Once again, Apple is using its dominant position and unfair practices to disadvantage competitors and deprive consumers by favoring its own services,” the music streaming platform developer said in a statement, according to The Verge.

The Apple One bundle clubs six services which include music, Apple TV+, games arcade, iCloud storage, news, and fitness in a monthly subscription package.

Spotify’s streaming services cost $9.99 a month, whereas, Apple’s package deal would start from $14.99 for individual customers.

The iPhone maker denied the allegations in a statement to The Verge, claiming, customers can continue to discover and enjoy alternatives to every one of Apple’s services.”

Why Does It Matter: It’s not the first time that Spotify has stood against the trillion-dollar tech titan.

In March last year, Spotify filed a legal complaint against Apple with the European Union. The European Commission led by Margrethe Vestager decided to follow through with formal antitrust investigations for violation of EU competition rules in June this year.

While Spotify is critcizing Apple for antitrust violations, The Verge noted that it has also adopted a bundled package strategy to increase market outreach.

Spotify subscriptions come as part of packaged deals with the Walt Disney Co. (NYSE: DIS) streaming video-on-demand platform Hulu, AT&T Inc. (NYSE: T) cellular services, and certain phones of Samsung Electronics Co. Ltd. (OTC: SSNLF).

Apple is also involved in a legal tussle with “Fortnite” maker Epic Games over antitrust allegations related to the App Store.

Price Action: Apple shares traded 0.67% lower at $114.77 in the after-hours market session Tuesday, while Spotify shares traded 0.46% higher at $239.

Source: https://finance.yahoo.com/news/spotify-spars-apple-over-services-050354346.html

Spotify, Apple

World news – US – Spotify Spars With Apple Over Services Bundle Launch

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