Apple accused of trapping and ripping off 40m iCloud customers
Published On Nov 13, 2024, 7:08 PM
Apple is facing a legal claim by the consumer group Which? alleging that the company has effectively locked 40 million British customers into its iCloud service and charged them excessive prices, totaling potentially £3 billion in damages. This lawsuit is part of a broader trend of class action cases against Big Tech firms, which some believe highlight a lack of constraints on the industry. Apple denies these allegations, stating its iCloud service is optional amongst alternatives and defending its pricing structure as fair and secure.
Stock Forecasts
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The legal challenges may impact Apple’s brand image and consumer trust, potentially leading to more scrutiny in regulatory matters. However, the company's strong market presence and existing customer loyalty may cushion its profitability in the short term. Therefore, while legal challenges could introduce volatility, the core business remains robust.
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