Apple on Tuesday found itself the target of a 785-million-pound ($1 billion) class action lawsuit brought by more than 1,500 apps developers in the UK over its App Store fees.
That’s still only 0.034% of its market cap, it would simply be a slap on the wrist even if they lose.
Just because it’s the industry standard rate doesn’t mean it’s acceptable. It used to cost $0.25 to send an SMS and $1.25 to send an international SMS. Mobile data on international roaming used to cost $10 per megabyte.
Those were standard prices. That didn’t make them “fair”. Eventually various forces came into effect in and the prices dropped down to where they are now, which is often pretty close to free.
With the monopoly control Apple has over the App Store, it isn’t possible for the natural market to push prices down to where they should be, which means the only way to get there is through lawsuits, regulation, fines, etc etc. This isn’t the first lawsuit, and it won’t be the last. Apple might win this battle but they’re not going to win the war.
Just because it’s the industry standard rate doesn’t mean it’s acceptable. It used to cost $0.25 to send an SMS and $1.25 to send an international SMS. Mobile data on international roaming used to cost $10 per megabyte.
Those were standard prices. That didn’t make them “fair”. Eventually various forces came into effect in and the prices dropped down to where they are now, which is often pretty close to free.
With the monopoly control Apple has over the App Store, it isn’t possible for the natural market to push prices down to where they should be, which means the only way to get there is through lawsuits, regulation, fines, etc etc. This isn’t the first lawsuit, and it won’t be the last. Apple might win this battle but they’re not going to win the war.
Ok? Agree? Not arguing against any of that.