Big Tech Companies to Be Reviewed By the US over Anti-Competitive Practices
The US Department of Justice yesterday launched a probe to investigate big tech companies on whether they engage in anti-competitive practices.
The review will investigate “whether and how market-leading online platforms have achieved market power and are engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers,” the Justice Department said in a statement.
Although the Department of Justice did not point out which companies are to be reviewed, the main concerns majored around “search, social media, and some retail services online” –a possible direct reference to Google, Facebook and Amazon. Apple Inc. may also fall under this list.
Since May, reports have indicated possible crackdown on big tech companies by the FTC and Department of Justice over possible abuse of their market power.
The probe comes months after the US Department of Justice reportedly met with the Federal Trade Commission to investigate tech companies over possible violations of the antitrust laws.
Previous reports stated that the FTC was handed the mandate to clampdown on Facebook and Amazon while the DoJ was to launch probes on both Apple and Google.
Big tech crackdown has been fuelled by concerns from legislators, competitors, and lawmakers over the massive power these tech companies hold and how they might be using the power to stifle business competitors.
Back in May WSJ reported that the US Department of Justice was launching investigations against Google over anti-trust issues.
Over the past few months, the US has developed a close interest in cracking down big tech, but it is clear that the EU has been at the forefront of matters anti-trust against tech behemoths.
FeaturedPhoto: Reuters
Follow us on Telegram, Twitter, Facebook or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates.
