☝️🏻The European Union previously required Apple to open its App Store to competitors following the passage of the Digital Markets Act.
Apple tried to challenge this decision, but now awaitsthat change is inevitable.
The company’s 10-K financial form states that it plans to make fundamental changes to its business due to legislative initiatives such as the EU Digital Markets Act by March 2024.
☝️🏻These changes will affect how much Apple charges developers to access the App Store, affect how it manages app distribution outside the store and affect how it allows developers to communicate with consumers about alternative purchasing methods.
Apple warns that reduced sales and commission income could negatively impact its business, operations and financial condition.
Analysts at Morgan Stanley believe the new language in Form 10-K confirms the emergence of third-party app stores in Europe.😏