France fined Apple 2.6 billion yuan, after issuing a fine of 7.711 billion yuan.

CTOnews.com, Oct. 6-A French court on Thursday sharply reduced the fine imposed on Apple, the maker of iPhone, for illegal competition, to 372 million euros (2.608 billion yuan) from 1.1 billion euros (7.711 billion yuan), a person familiar with the matter told Reuters. Apple has yet to comment.

CTOnews.com learned that the fine was first imposed by French antitrust regulators in 2020 on the grounds of Apple's anti-competitive behaviour towards its distribution and retail networks. This was the largest fine issued by the French antitrust regulator at that time.

The regulator said Apple levied taxes on high-end retail dealers to keep prices in line with its stores or website.

The Paris Court of Appeal reduced the fine because it decided to drop one of the three main charges related to price-fixing charges, the source said. The court also decided to significantly reduce the ratio used to calculate the total fine, the source added.

Given Apple's size and financial strength, French antitrust agencies used a high ratio in 2020, the source said. So Apple appealed the initial fine.