Apple stock declined following reports that Chinese regulators are contemplating launching an official investigation into the App Store fees and regulations imposed by the tech giant.
At 16:20 BKK Time on Wednesday, Apple shares were trading 2.63% lower in the premarket session.
Sources familiar with the situation revealed to Bloomberg that the State Administration for Market Regulation (SAMR) in China is scrutinizing Apple’s practices, such as charging up to a 30% commission on in-app purchases and prohibiting alternative payment platforms and app marketplaces. Although a final decision has not yet been made, China’s regulatory body is weighing the possibility of initiating a probe into Apple’s operations.
