Google Fined $177 Million By South Korea for Anti-Monopoly Tactics

Google Fined $177 Million By South Korea for Anti-Monopoly Tactics

(Bloomberg) South Korea’s regulators have fined Google $177 million for blocking rivals from its Android operating system.

Fig: Android Dominance

Fig: Android Dominance

The South Korea’s regulator says Google’s actions sustain its dominance in smartphone software. The search giant’s operating system powers more than 80% of the global smartphones.

The regulator says Google’s anti-fragmentation agreements with rivals such as Samsung and LG Electronics forbid gadget makers from coming up with new or modified Android OS versions.

Google has been banned from requiring manufacturers to sign AFA contracts and asked to modify the existing ones.

The tech giant has said it will appeal the decision, which it alleges undermines the benefits enjoyed by consumers through the “innovative” Android system.

Google’s fine is one of the highest in the country over abuse of market dominance. The penalty comes after Korea became the first country to come up with a law in August forcing Google and Apple Inc. to open up their app stores to third parties.

GOOGL: NASDAQ is up +0.15% on premarket.

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