Supreme Court Postpones Google’s Anti-competitive Practices Hearing to January
Supreme Court Defers Google’s Anti-competitive Practices Hearing
The Supreme Court has deferred the hearing on Google’s alleged anti-competitive practices until January. This decision highlights the gravity of the case and prevents overlaps with other ongoing cases. Both Google and the Competition Commission of India (CCI) appealed against a partially upheld CCI decision by the National Company Law Appellate Tribunal (NCLAT). The postponement allows for thorough preparation to avoid clashes with other cases.
Investigation into Google’s Alleged Abusive Practices
The case originated from a Rs 1,337 crore fine imposed on Google by the CCI. It investigates claims of Google abusing its dominance in Android and online search markets. Several contentious issues are at the heart of this case, including the mandatory pre-installation of Google apps for Play Store licensing, manufacturers’ rights in app selection and placement, restrictions on creating devices based on Android forks without Google apps, users’ choice of default search engine, and prohibition on agreements that impede sales of devices running Android forks.
Importance of the Case
The delay in hearing until January underscores the importance of this case. It allows all parties involved to thoroughly prepare and present their arguments. The Supreme Court’s decision to defer the hearing indicates the significance of this matter and its potential impact on the industry.
Google’s Market Position and Financial Performance
Google, with a market cap of 1740.0B USD according to InvestingPro’s real-time metrics, is a prominent player in the Interactive Media & Services industry. The company is known to yield high returns on invested capital and operates with a high return on assets. InvestingPro data indicates a P/E ratio of 29.1 and a revenue of 289.53B USD for Google.
Despite the ongoing legal challenge, Google’s stock has been trading near its 52-week high, with a 15.15% return over the last three months. This performance reflects Google’s strong return over the past five years, as highlighted in InvestingPro Tips.
However, it’s worth noting that Google’s revenue growth has been slowing down recently, as per InvestingPro Tips. This could be a potential concern for investors, along with the fact that the company does not pay a dividend to its shareholders.
Monitoring the Case’s Impact
Investors and market watchers will closely monitor the developments of this case and its potential impact on Google’s market position and financial performance. For more insightful tips and real-time metrics on Google and other companies, consider exploring InvestingPro’s product offerings.
This article was generated with the support of AI and reviewed by an editor.
