Why did Apple lose its monopoly on the App Store in Europe, albeit with little loss?

Despite being a huge iPhone consumer market, the European Union contributes very little to Apple’s App Store.

So far, CEO Tim Cook has said that Apple will comply with regulations in the local markets where it does business. But it also sometimes left Apple with regulations that were harmful to its business.

According to Bloomberg, Apple has now begun improving its software to comply with new EU regulations that will come into effect in 2024. While it’s not certain yet, Apple is considering allowing this. this. this. A third-party browser tool that allows wallet apps to access the phone’s NFC chip and convert it from Lightning to USB-C.

But most notably, Apple allows apps to be installed directly or “sideloaded” onto the iPhone from the web and third-party app stores. Currently, the App Store is the only place where you can install apps on your iPhone.

This appears to be a blow to Apple’s pockets in terms of the iPhone app commission pie, which charges a 30% commission on every in-app payment transaction. The fee has also been the target of an antitrust lawsuit, as well as complaints about Apple’s policies by several major software companies.