Google suffered a heavy blow in the antitrust case, and its dominant position in the Android app market may be overturned.
A US judge issued a permanent injunction forcing Google to provide an alternative to the Google Play Store for Android phone users to download applications. Google will also be prohibited from paying fees to companies or sharing revenue in exchange for not competing with Google's app store. Alphabet, Google's parent company, saw its stock price drop over 2.4%, dragging down the large cap stocks significantly after the midday break. Analysts say that the latest ruling may accelerate the weakening of Google and Apple's control over the app store.
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Epic wins the lawsuit! A US judge ruled that Google (GOOG.US, GOOGL.US) must open the Android system to third-party stores.
As of Monday's close, Google fell by 2.47%, closing at $164.39.
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Google Play Store's doors forced open! US judge rules no restrictions on competition for three years.
①Google's profitable cash cow business is undergoing a crucial transformation as a federal judge in the USA ruled that Google cannot restrict its competitors from competing with Google Play Store; ②According to the ruling, in the next three years, Google will not be able to exchange commissions or revenue sharing for other companies not developing app stores, or make commitments for Google to exclusively distribute applications; ③Analysts point out that this will greatly promote the rise of the Android app store.
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