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D2CX by Inc42 is a 12-week hands-on program to help you level up your D2C game. Learn from India's top 1% D2C founders and experts through actionable insights, proven strategies and tactics on how to 10X your D2C brand.
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ManagementX by Inc42 – India’s first Startup Management Program is a 6-month hands-on program that will take you on an intense journey that shatters the outdated “employee mindset” and equips you with the “leader mindset”.
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D2CX Foundations by Inc42 is a 6 week hands-on program to help you launch your D2C brand successfully and profitably. Learn from India’s top 1% of D2C founders & experts through actionable insights, proven strategies and tactics on how to launch a successful D2C Brand in 6 weeks.
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iPhone maker Apple has agreed to submit the financial details of its India business to the Competition Commission of India (CCI).
The development comes after months of disagreement between the iPhone maker and the competition watchdog over the financial information required for the investigation. According to a Reuters report, Apple sought a final extension from the CCI during a hearing on May 21 and has now been given time until June 25 to furnish its India-specific financial data.
The financial information is expected to help the regulator assess any penalty to be levied on the company for violating competition laws.
The company had earlier resisted sharing financial information with the regulator, arguing that proceedings should be paused while it separately challenged amendments to India’s competition law that allow the antitrust regulator to fine companies on the basis of the global turnover.
Apple claimed that the amendments and CCI guidelines could expose it to penalties of around $38 Bn based on its global turnover.
However, the CCI repeatedly maintained that it only required Apple’s India financials at this stage of the proceedings. Last month, Delhi HC directed Apple to cooperate with the investigation.
The case dates back to 2021, when Match Group, the parent company of Tinder, along with startup industry body Alliance of Digital India Foundation (ADIF), raised concerns over Apple’s App Store policies.
The complainants alleged that Apple restricted competition by requiring developers to use its own in-app payment system and limiting alternative payment options.
In 2024, the CCI investigation reportedly concluded that Apple had abused its dominant position in the market for app distribution on iPhones. The investigation found that developers were not allowed to use third-party payment services for in-app purchases and described Apple’s App Store as an “unavoidable trading partner” for app developers operating within the iOS ecosystem.
Apple has denied any wrongdoing and said it intends to challenge the findings.
The latest development removes one of the key hurdles in the case and could allow the regulator to move towards determining penalties or other corrective measures.
The dispute is being closely watched by startups and app developers, many of whom have long argued that platform owners should allow greater flexibility in payment systems and app distribution practices.
The case also echoes earlier regulatory action against Google. In 2022, the CCI imposed a penalty of $113 Mn on the tech giant over its in-app billing practices, finding that it had abused its dominant position in the Android ecosystem. Google denied wrongdoing and challenged the decision.
The antitrust proceedings come at a time when India has become increasingly important for Apple. The company has expanded local manufacturing and steadily grown its smartphone market share in the country. According to Counterpoint Research, Apple’s share of India’s smartphone market has risen to about 9% from roughly 2% five years ago.
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