updated 10:20 am EST, Tue January 8, 2008
Apple to handle EC claims
Apple is expected to announce steps in the near future to resolve charges from the European Commission, which state that its iTunes Store violates EU law by offering varying pices on a country by country basis. Following the forthcoming announcement, the European Union regulator will likely announce the closure of the case, according to Reuters.
The European Commission announced in early 2007 that Apple had broken EU law by striking a deal with major record labels to restrict cross-country access to its iTunes Store tracks, forcing some European customers to pay more for the same music as their neighboring countries.
The closure of potential fines or further legal action against the Cupertino-based company will strengthen investor confidence and eliminate another potential unexpected decrease in profits.