In a move that was expected from Apple, the company announced changes to App Store fees. This came after the accusations made against her previously European Union Violating new digital laws. Apple's decision came that it will allow developers to promote their offers outside the App Store starting next fall. On the other hand, Apple shares fell by 4% after Berkshire Hathaway sold half of its stake in the company. Here are all the details in this article, God willing.
Apple will allow developers to promote their applications in exchange for 5% on digital sales
Last Thursday, Apple announced changes to its App Store fees. This came after the European Union accused it of violating new digital rules, accusing it of preventing developers from directing users to alternative payment methods.
In response, Apple will make changes in line with digital law, and will allow developers in the European Union to freely promote their offers. Including in alternative markets, starting next fall. But as usual, Apple will impose a new 5% fee on digital sales made through any platform within a year from the date the user downloads the application, with the ability to link to different channels such as websites.
The European Commission later said developers were able to direct customers through a link in the apps that took them to a web page to conclude contracts. But Apple placed several restrictions that prevented them from communicating and promoting their offers. Currently, Apple charges three types of fees: A basic technical fee for less than 1% of apps. In addition to a reduced commission for all digital goods and services sold through its store, and finally an optional fee for payment and trade services. As for the new App Store fees that Apple will impose, they will replace the reduced commission for all digital goods and services sold through the App Store.
What does Spotify think about Apple's App Store fees?
Spotify, which is locked in a dispute with Apple, said it would evaluate Apple's proposal. A Spotify spokesperson said: “At first glance, charging fees of up to 25% for basic communication with users appears to be a blatant disregard by Apple for the basic requirements of the Digital Markets Act.”
A shocking decline in Apple shares: What did Berkshire Hathaway do after selling half of its stake?
Apple shares fell 4% on Monday. This came after news emerged that Berkshire Hathaway had sold half of its stake in it. Berkshire Hathaway sold approximately 390 million Apple shares, with a total value of about $75.5 billion.
Despite this major liquidation, Berkshire Hathaway still owns about 400 million Apple shares, with an estimated value of $84.2 billion. CNBC indicated that the decision of Warren Buffett, CEO of Berkshire, was influenced by the challenges facing Apple in the Chinese market, stressing that this measure may harm Apple's commercial interests.
In the same context, analysts at Bloomberg Intelligence confirmed that Buffett's motive behind this step is to avoid paying high taxes on capital gains. He intends to focus on long-term investments. It is worth noting that Apple shares have risen by 23% during the last three months. It reached an all-time high on July 16. This rise has strengthened investor confidence, especially with growing optimism about the role of artificial intelligence technologies in boosting Apple's sales.
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