Published On: Wed, Jun 28th, 2017

Google fined $2.7 Billion

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American IT giant Google was fined $2.7 Billion by the European commission. The fine was leived upon the American giant as a consequence of breaching competition rules with its online shopping service. It has been accused of putting its own product ‘Shopping box’ over the other competitors in the search results, making its competitors less visible.

EU Claimed Google to have taken advantage of its dominance in market by placing an illegal advantage of its product, in comparison to other products. On speaking about the matter Google’s general Counselor Kent Walker  argued “ just doesn’t fit the reality of how most people shop online. They reach merchant websites in many different ways : via general search engines, specialist search services, merchant platforms, social media sites and online ads served various companies. And of course, merchants are reaching consumers directly like never before. On the mobile web – and more than half of Europe’s internet traffic is mobile these days. Dedicated apps are the common way to shop.”

Google parent company Alphabet has been under the scanner from a pretty long time. They have asked to amend the rules and stop the practice of placing its brand over its competitors or else 5% further fine would be imposed on its annual turn over. According to EU the fine leived is pretty a nominal amount as compared to its turnover of $90 Billion annually.

Azam Sait

Photo Courtesy : Google/ images may be subject to copyright

 

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Google fined $2.7 Billion