French antitrust body fines Apple £1 billion for anti-competitive behaviour

France's competition watchdog on Monday fined iPhone maker Apple APPL.O 1.1 billion euros (£1 billion) for anti-competitive behaviour in its distribution network and an abuse of economic dependence on its resellers.

Two of Apple's wholesalers, Tech Data and Ingram Micro, were fined 63 million euros and 76 million euros respectively, for unlawfully agreeing on prices, the authority said.

"Apple and its two wholesalers have agreed not to compete with each other and to prevent distributors from competing with each other, thereby sterilising the wholesale market for Apple products," it said