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More than 1,500 app developers in the United Kingdom brought a £785 million ($1 billion) class action lawsuit against Apple Tuesday over its App Store fees. Revenues at Apple (AAPL)’s services business, which includes the App Store, have grown rapidly in the last few years and now hover around $20 billion per quarter. However, the commissions of 15% to 30% that the company charges some app makers for using an in-app payment system have been criticized by app developers and targeted by antitrust regulators in several countries. Apple has previously said that 85% of developers on the App Store do not pay any commission and that it helps European developers access markets and customers in 175 countries around the world through the App Store. They harm app developers and also app buyers.”
Persons: Sean Ennis, , ” Ennis, Organizations: Apple Tuesday, Apple, Competition, Centre for, University of East, Organisation for Economic Co, Geradin Partners Locations: United Kingdom, University of East Anglia
However, iPhone shipments declined 14.9% year on year. Apple's latest patent is adding to anticipation that the iPhone maker could be on the cusp of launching a foldable device. Apple is yet to introduce a foldable iPhone or any device, unlike competitors such as Samsung. Analysts at UBS said in a note published Tuesday that the patent "could indicate a foldable device is a possibility but not this year." The analysts said that a foldable smartphone "could be an incremental opportunity for future generation iPhone models."
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