The European Union is reportedly close to imposing its first fine on Apple for abusing its dominant market position, as well as prohibiting certain App Store rules that are believed to distort competition, according to the Financial Times.

Based on the British newspaper's exclusive report, which cites five unnamed sources, the fine is expected to be announced next month and could be around €500 million. Apple could face a fine amounting to up to 10% of its annual global sales.

The investigation was initiated following a complaint from Swedish music streaming company Spotify. Spotify claimed it was forced to increase its monthly subscription fee to cover costs associated with the way Apple manages the App Store to benefit itself over its competitors. In an initial finding in February 2023, the European Commission reported that Apple's terms in the App Store are unnecessary and result in higher prices for consumers.

In early 2022, Apple began allowing Spotify and other music services to direct app users to the internet for subscription sign-ups. However, in June, Spotify stated that restrictions still apply and that "the changes were only for show."