Taiwan Fines Apple $663,000 For Controlling Prices of Products at Local Stores

The Taiwan Fair Trade Commission has slammed Apple with a fine of NT$20 million (US$663,332) for fixing iPhone prices at local stores and dictating pricing plans to telecommunication carriers.

For the first time, Apple has been slammed with a fine for controlling the price of iPhones available at local stores. The Taiwan Fair Trade Commission fined Apple NT$20 million (US$663,332) for violating Taiwan's free-trade laws. The agency requires the Cupertino-based tech giant's unit-Apple Asia to stop the practice following an official documentation from the government, or be prepared for further charges.

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