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S.Korea fines Google $177 mln for blocking Android customization
SEOUL, Sept 14 (Reuters) - South Korea's antitrust regulator has fined Alphabet Inc's Google 207 billion won ($176.64 million) for blocking customized versions of its Android operating system (OS), in the U.S. technology giant's second setback in the country in less than a month.
The Korea Fair Trade Commission (KFTC) said on Tuesday Google's contract terms with device makers amounted to an abuse of its dominant market position that restricted competition in the mobile OS market.
"The Korea Fair Trade Commission's decision is meaningful in a way that it provides an opportunity to restore future competitive pressure in the mobile OS and app market markets," KFTC Chairperson Joh Sung-wook said in a statement.
The antitrust regulator said this could be the ninth-biggest fine it has ever imposed.
KFTC said Google hampered competition by making device producers abide by an "anti-fragmentation agreement (AFA)" when signing key contracts with it regarding app store licenses.
Under the AFA, manufacturers could not equip their handsets with modified versions of Android, known as "Android forks". That has helped Google cement its market dominance in the mobile OS market, the KFTC said.
Under the ruling, Google is banned from forcing device makers to sign AFA contracts, allowing manufacturers to adopt modified versions of Android OS on their devices.
In one instance, Samsung Electronics Co Ltd launched a smartwatch with a customized OS in 2013 but switched to a different OS after Google regarded the move as an AFA violation, KFTC said. Samsung Electronics declined to comment.
The fine comes on the day that an amendment to South Korea's Telecommunications Business Act - popularly dubbed the "anti-Google law" - came into effect.
The bill was passed in late August and it bans app store operators such as Google from requiring software developers to use their payment systems. The requirement had effectively stopped developers from charging commission on in-app purchases.
Last year, India's antitrust body ordered an investigation into allegations that Google was abusing its market position to promote its payments app as well as forcing app developers to use its in-app payment system.
Do you guys think this stock is still a good dca for the long term starting at these prices? Thinking like 10-15 years
If you haven't noticed, the one who said he bought at $8 (Nick) will be here forever until people stop paying him, same for most other FUD (Not Tommy he's just a little slow, he'll see the truth soon). You have a 3-6 month wait time until the SP starts to get where we all know it will be imo. We are in the last legs of this case. This last stage of the case is when we go over everything NLST went through for 12 years and condense into 1 year. Some people who have been posting daily for months didn't even realize that when I initially brought it up. Just wait and be patient this is going to be legendary. Different from anything you've ever seen before. Just look at the increase of FUD here lately. They're not trying to get people to sell. They just don't want anyone new to buy.
As many have said before. "Rome wasn't built in a day"
Today ranks among my worst loss days EVER. I currently own 17 stocks, all are down. GOOG is my largest holding, followed by AMZN. 😢😥
Debt limit approaching. We all know the GOP is going to dig in and make the Dems look like the only party needing more money to run the country. I could see it dragging on to December.
I think goog is one of the safest investments out there. However for the first time in a while they have a legit headwind due to supply chain issues. AdAge just ran a feature on this. Basically, companies don't have enough product to sell right now so doesn't make sense to spend on advertisement. So upcoming holiday season will not be what it normally is. So if you make widgets and you normally spend a lot this time of year to promote your products and drive sales during busy retail time of year, there isn't as much incentive to spend on ads sales when you already know you are going to sell everything you have in inventory anyways. With inventories so limited there is no reason to spend on ad sales. Makes sense. will hurt FB and other online advertisers too.
Sold GOOGL and my other tech stocks middle of last week. The market can go only so high with all the stuff going on nationwide and around the world.
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Just remember, the faster the fall, the quicker the bounce back! Great time to pick up the hard hit like $GOOG, $AMZN, $MSFT, $NVDA, $SHOP, $ADBE, $ASML, $PYPL, $LRCX, $KLAC.
There are no oracles but I think you will be very happy with your investment in GOOG going forward to year's end.
CONGRATS IN ADVANCE TO THOSE ACCUMULATING THOSE NOVEMBER 19th CALLS CHEAPER THIS MONTH, AHEAD THE OCTOBER EARNINGS RUN.
MASSIVE GAINS NEXT MONTH. 😎
Serious question, but why would a Chinese asset sell-off affect Google (and, say, Facebook) at all? If anything, I could see a "rebalancing" INTO these names, after the air/money clears.
THE MARKETS LIKE WHAT IT HEARD FROM THE FED. LET’S GO!
WHY TESLA IS STILL A BUY.
1. The Model Y is the perfect car for most families & will become the most sold vehicle on earth. Great margins!
2. Cybertruck has 85Billion in preorders.
3. Both Germany & Austin volumes are imminent & the 4680 batteries has relegated ALL EV COMPETITORS meaningless for another decade.
Longterm Tesla is like an $appl or $amzn or $goog. It will simply keep expanding its dominance & grinding higher & higher.
buy any dip!
Think forward: where will GOOG be at year's end? over 3000
NO FEAR DURING SEPTEMBER DIPS. IT ‘S THE ANNUAL ACCUMULATE CHEAPER MONTH. 😎
The real estate agent helping to purchase the 2.1 Billion building should net about 30 million, saying they are making 1.5%. How tf do I get on the team lmao
Anyways, s/o the OGs on this chat the past 9 months +. we just getting started.
In Sundar we trust
Finally a real market dip worth adding to positions of $GOOG, $AMZN, $MSFT, and $NVDA.
AOC wears Tax The Rich dress while attending $30,000 per ticket gala event. How much did the 'menstruating person' pay to attend that event for the Rich? Is AOC age 31, now among the Rich after winning office as a poor bartender?
FedEx just painted a disturbing picture of the job market
Powell: Fed is evaluating launch of digital currency
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