Apple Inc. (AAPL) Revamps App Store Policies In EU To Avoid Fines

Apple Inc. (NASDAQ:AAPL) is among the Goldman Sachs Stock Portfolio: 10 Large-Cap Stocks To Buy. On Thursday, the company revised its App Store policies in the EU, aiming to avoid further charges following a 500 million euro fine in April for violating the Digital Markets Act.

The iPhone maker was penalized for preventing app developers from sending customers to cheaper options outside the App Store. The changes made by Apple Inc. (NASDAQ:AAPL) will make it easier for app makers to direct customers to better deals on other websites and alternative app stores.

According to Reuters, Apple Inc. (NASDAQ:AAPL) will require developers to pay a 20% processing fee for purchases made through the App Store. However, the fees could go down to 13% for Apple’s small-business program. On the other hand, developers sending customers outside the App Store will pay a fee between 5% and 15%.

The changes by Apple Inc. (NASDAQ:AAPL) aim to avoid paying daily fines, which could amount to about 50 million euros per day. The European Commission said it will review the changes for compliance with the Digital Markets Act.

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