Tech giant Apple is reportedly facing $1 billion in daily fines from the European Commission, due to alleged breaches of its Digital Markets Act (DMA).

The Financial Times recently suggested that the EU Commission suspects Apple of not complying with its DMA legislation. This set of regulations, introduced by the European Union aims to ensure fair online practices by large-scale online platforms.

Notably, Apple's practice of taking a 30% revenue cut from developers has been a point of contention. In response to pressure from the EU, Apple announced in March to allow app downloads outside of the App Store via authorized developer websites in the EU.

However, they also introduced the so-called "core technology fee" in January, which would require developers to pay €0.50 for each install of an app per year after the first install for apps distributed via the App Store and alternative storefronts. This led to the EU Commission having deemed Apple not to be complying with its DMA legislation.

If Apple is found to be in violation of these regulations, the EU Commission could impose daily fines on the company, equivalent to 5% of its average daily turnover, which is over $1 billion and this would mark the first time a company has been penalized under the DMA.

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