Tech Giant, Google, was fined $5 billion by the European Commission on Wednesday for breaking antitrust laws by pushing its apps on smartphone users and subsequently shutting its competitors out of the market.
I told you so!
At the same time, Politico indicates that it is the largest antitrust fine ever levied by the European authorities in competition with one company.
"Google can brush [the fine] off without an enormous amount of difficultly", said Richard Windsor, founder of the tech research firm Radio Free Mobile.
The EU is also ordering Google to "stop and to not re-engage" in business practices that it says Google relied on to cement its dominance, including bundling its search and browser apps with its Android operating system.
Trump took to Twitter over the decision: "I told you so!" In simpler terms, it means manipulating Google's program into thinking that a word like "idiot" should throw up results related to Donald Trump. Google intends to appeal this decision, he said. As the report points out, they will need to be cautious, particularly with Android, for which Google relies on many hardware partners.
The decision, which follows a three-year EU investigation, comes as fears of a transatlantic trade war mount because of President Donald Trump's decision to impose tariffs on European steel and aluminium exports.
According to Commissioner Margrethe Vestager who is in charge of competition policy, their case is about three types of restrictions that Google has imposed on Android device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine.
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The fishing zone enforced by Israel off the Gaza Strip was also reduced from six nautical miles to three. Food, medicine and other humanitarian supplies would continue to be permitted through the crossing.
Past year eMarketer forecast almost $50billion would be made by Google in 2017 from mobile ad revenue. "This ranges from increased fragmentation and greater app inconsistency to increases in hardware cost should Google decide to change or adapt the Android business model", Geoff Blaber said.
Android is technically an open-source operating system that Google lets cellphone makers use for free.
Having its apps pre-installed is a huge revenue driver for Google. It also wants cellphone makers to be able to more easily use altered versions of Android.
The U.S. has also complained that the European Union has mainly targeted American companies - including also Apple and Amazon - for breaking competition or tax rules.
Both Amazon and Samsung, maker of the popular Galaxy line of phones, declined to comment on the ruling.
"We have to protect consumers and competition to make sure consumers get the best of fair competition", Vestager said.
For its part, the European Union is preparing a new list of U.S. goods to hit with retaliatory measures Trump moves ahead with the auto tariffs.