💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadUnlock them all

Google facing antitrust investigation in Japan

Published 2023-10-23, 08:09 a/m
© Reuters.  Google facing antitrust investigation in Japan
GOOGL
-

Proactive Investors - Google is set to be investigated by Japan’s Fair Trade Commision after it was found that the digital service provider accounts for around 70% of all online searches made in the country, reports revealed.

Aiming to find out whether Google asks mobile users to provide preferential treatment to its search engine over competitors, the investigation, if found to be true, will find the US tech giant in breach of Japan’s Antimonopoly act.

US and EU regulators have launched similar investigations against Google over antitrust claims, with the latter’s research resulting in a €2.7 billion fine for the group for monopolising search markets.

Over the last decade, Google has received the most amount of fines of all the big tech companies, according to GlobalData, with a large proportion of these penalties relating to its search engines and how it interacts with smartphone users.

Receiving around US$14 billion in fines during this period, the total amount represents around 5% of what Google brings in from sales every year (US$282 billion in 2022).

Laura Petrone, a principal analyst at GlobalData, isn’t confident the investigation in Japan will lead to huge changes for the search engine, with the fines often having little effect to the companies receiving them and on the industry in which it has monopolised.

“There are unlikely to be major changes in Google’s position in the Japanese market in the short to medium term,” she stated.

Google’s parent company Alphabet (NASDAQ:GOOGL) will report its third quarter financial results after the closing bell on Tuesday and it is expected to post strong year-over-year revenue, earnings and margin growth.

Read more on Proactive Investors CA

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.