Apple is currently facing several lawsuits with accusations of holding a monopoly in the smartphone and technology industries. The U.S. Justice Department announced early this morning the antitrust lawsuit, proclaiming Apple has such a hold over the smartphone space that it is ruining other competitors and restraining creativity. President Joe Biden directed both the Justice Department and Federal Trade Commission to enforce antitrust statutes.
Occupying such a large space in the technology area can be harmful due to the hold that a company can have over the industry as a whole. The situation occurring with Apple is noted to be similar to what happened in years past with Microsoft. The two companies have been fighting for the world’s most valuable company; which could be the reason they have both faced monopoly accusations.
