Donald Trump lambasts European Union over $5.1bn fine for Google

Donald Trump lambasts European Union over $5.1bn fine for Google

Donald Trump lambasts European Union over $5.1bn fine for Google

"I told you so!"

It has also taken on Facebook over privacy issues after it admitted that millions of users may have had their data hijacked by British consultancy firm Cambridge Analytica, which was working for Trump's 2016 election campaign.

Margrethe Vestager, the Competition Commissioner for the European Union, stated the huge fine would force Google to change its ways, increasing the chances of competition search apps and browsers to be downloaded.

The European Commission exceeds last year's then-record 2.4 billion-euro penalty following an investigation into Google's shopping-search service.

A spokeswoman for Google did not immediately respond when asked for comment on Trump's tweet.

Google later said it is planning to file an appeal against the decision, arguing that around 40 apps from multiple developers are pre-installed on typical smart devices, not just by Google, and the Commission ruled out competition between Android and iOS operating systems. In this way, it has cemented the dominance of its search engine. These practices have denied rivals the chance to innovate and compete on the merits. "A vibrant ecosystem, rapid innovation, and lower prices are classic hallmarks of robust competition", CEO Sundar Pichai has also suggested that the ruling will mean that Android will no longer be offered for free. So far, Google has not charged anything from smartphone manufacturers for making use of their technology and have not bound them in a "tightly controlled distribution model". "But we are concerned that today's decision will upset the careful balance that we have struck with Android, and that it sends a troubling signal in favor of proprietary systems over open platforms", Pichai concludes. The president insinuated that it will come to an end.

Despite being a record fine, Alphabet generated about the same amount of money every 16 days in 2017, based on the company's reported annual revenue of $110.9 billion for the year. Additionally, the company's sales topped $31 billion in the first quarter.

Alphabet shares were down 1.2 percent in pre-market trading in NY on Wednesday.

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