Gonzalez said the profits Apple reaps from game developers appear to be disproportionate. I understand this notion that somehow Apple is bringing the customer to the dance, she said. But after that first time, after that first interaction, the developers are keeping customers with the game. Apple is just profiting from that, it seems me.
Cook disagreed. The free apps bring a lot to the table. Only the people who are really profiting in a major way are paying 30 percent commissions, he said.
Epic has tried to show that Apple s iPhone is a lucrative platform that locks in users, pointing to an internal Apple document that Epic alleges showed the App Store had 78 percent operating margins. Cook said the document did not reflect the full costs of running the App Store.
By Tim Higgins and Sarah E. Needleman Epic Games Inc. s courtroom battle against Apple Inc. is expected to end Monday with a debate-style format in which the judge will drill each side with.
European equities advanced Friday following strong economic data, while US markets ended a volatile week on a muted note amid lingering inflation concerns.
Investor sentiment brightened after survey data showed eurozone business activity grew at its fastest rate in three years, as Europe s economy emerges from months of Covid-19 restrictions.
IHS Markit s Purchasing Managers Index (PMI) index of eurozone activity rose to a strong 56.9 in May from 53.8 in April, well above the 50-point level that indicates growth. Demand for goods and services is surging . as the region continues to reopen from covid-related restrictions, said Chris Williamson, chief business economist at IHS Markit.
US stocks end volatile week on muted note news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.
Legal Apple s Tim Cook says threat profile of iPhone justifies App Store rules
Stephen Nellis
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Apple CEO Tim Cook testifies remotely via videoconference during a U.S. House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law hearing on Online Platforms and Market Power in this screengrab made from video as the committee meets on Capitol Hill, in Washington, U.S., July 29, 2020. U.S. House Judiciary Committee via REUTERS/File Photo
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Apple Inc (AAPL.O) Chief Executive Tim Cook on Friday told a court the threat profile of the iPhone required tight control of the App Store, which Fortnite game maker Epic Games says is a monopoly that Apple abuses.