GOOGL Stock rose to $99.93 as of 10:13 AM EDT.
The decision by India’s competition commission to fine Alphabet’s (NASDAQ:GOOGL) Google 13.38 billion Indian rupees ($161.95 million) for anticompetitive conduct is a “significant setback for the nation’s consumers and businesses,” Google said on Friday.
The American tech company added in a statement that it is examining the choice to consider “next steps,” according to Reuters.
On Thursday, the Competition Commission of India (CCI) fined Google 13.38 billion Indian rupees and ordered Google to change the way it approaches the Android platform. The CCI thought that Google was using its strong position in the online search and app store markets for Android devices to protect its own apps, like Google Chrome and YouTube.
In the response it posted on Friday, Google did not say what it would do next, but the market thinks that the internet giant will fight the ruling. The anti-trust watchdog has also stopped Google from making some revenue-sharing deals with smartphone makers. This is because these kinds of deals help Google keep its search services exclusive “to the absolute exclusion of competitors.”
Outcomes Likely to Impact GOOGL Stock
India also told Google to stop making it hard for customers to choose their search engine when setting up their phone for the first time and to stop making it hard for users to get rid of apps like Google Maps and Gmail that come pre-installed on Android phones.
It adds to the legal problems the tech giant has been having lately, such as a lawsuit in Texas over the collection of biometric data without permission and a $5 billion fine in Europe for allegedly pressuring phone makers to pre-install the company’s apps on Android. Alphabet’s (NASDAQ:GOOGL) stock was down 2% on Friday’s pre-market trading.
Alphabet Stock: My Favourite Risky Bet In A Volatile Market
Featured Image- Megapixl @ Miluxian
Author Jowi Kwasu 
