Google Stock (NASDAQ:GOOGL) (NASDAQ:GOOG)
Indian antitrust agency has issued a fine of $162 million against Alphabet’s Google (NASDAQ:GOOGL) and Alphabet’s Google (NASDAQ:GOOG) for engaging in anticompetitive conduct on its Android platform. Despite that, Google stock surged in the market today.
It was discovered that Google used its dominating position on Android to shield its programs, such as YouTube and Chrome, from competition in the app store and online search engines. It was forced to change its strategy on Android, and it was prohibited from entering into specific revenue-sharing arrangements with manufacturers of smartphones.
According to India’s competition authorities, these revenue-sharing arrangements assist Google in securing exclusivity for its search engines to the “complete exclusion” of other companies that provide similar services. Up to this point, Google has chosen not to comment on the fine or the ruling.
Google (GOOG) and Google (GOOGL) are being investigated for possible antitrust violations on many fronts. At the beginning of this month, it was rumored that antitrust officials in Europe were also getting ready to file accusations against Google for its advertising technology company. In the United States, it is alleged that this company made an offer over the summer to break apart its ad-tech division to avoid being sued by the Department of Justice (DOJ).
As of 1:40 p.m. Eastern Time, Google stock prices had increased by around 0.8%.
Featured Image- Megapixl @ Miluxian
Author Shariq Khan 
