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UK regulator says Google and Apple have 'vice-like' grip on consumers
$Alphabet-C (GOOG.US)$ $Apple (AAPL.US)$ $Meta Platforms (FB.US)$ Google and Apple hold a "vice-like" grip over how people use mobile phones, stripping any meaningful choice from the system for customers, Britain's competition regulator said on Tuesday.
The regulator has set its sights on big tech groups in the last year with the creation of a new Digital Markets Unit, and it most recently said Facebook owner Meta would have to sell Giphy, the popular animated images platform it bought in 2020.
It said on Tuesday it would now consult on its initial findings about Apple and Google and would welcome responses by Feb. 7. It expects to issue a final report by June next year.
"Apple and Google have developed a vice-like grip over how we use mobile phones and we're concerned that it's causing millions of people across the UK to lose out," Andrea Coscelli, Chief Executive of the CMA, said.
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