Apple Agrees to Submit India Financials in Antitrust Case, Gets June 25 Extension

Apple has agreed to provide India-specific financial statements to the Competition Commission of India, advancing a long-running antitrust probe that found in 2024 Apple abused its position in the iPhone apps market. The company received a final extension to file the documents by June 25 after initially seeking to pause proceedings pending a challenge to India’s penalty law, which could allow fines based on global turnover with exposure cited up to $38 billion. The development reduces a key procedural hurdle in a fast-growing market where iPhone share has risen to about 9% from ~2% five years ago, potentially affecting App Store rules, costs, and investor sentiment toward AAPL.