Swedish court orders Google to pay $1.5 billion in antitrust damages to Klarna's PriceRunner
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IN SHORT
A Swedish court has ordered Google to pay approximately $1.5 billion in antitrust damages to PriceRunner, a price comparison service owned by Klarna. The court ruled that Google illegally favored its own shopping service for years, harming PriceRunner. Separately, South Korea's antitrust regulator has accused Google of abusing its dominant position in the Android app marketplace, potentially affecting $9.1 billion in revenue and leading to corrective measures and a financial penalty.
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Key Numbers
$1.5 billionantitrust damages ordered against Google in Sweden
$9.1 billionrevenue potentially affected by Google's alleged dominance in South Korea
Who's Involved
Google
Technology company facing antitrust damages and accusations of market dominance
PriceRunner
Price comparison service owned by Klarna, awarded antitrust damages
Klarna
Owner of PriceRunner, a price comparison service
South Korea's antitrust regulator
Regulator accusing Google of abusing Android app store dominance
Alphabet
Parent company of Google
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Key facts
A Swedish court ordered Google to pay $1.5 billion in antitrust damages to PriceRunner.
PriceRunner is a price comparison service owned by Klarna.
The Swedish court found Google illegally favored its own shopping service.
Google's actions harmed PriceRunner, according to the Swedish court.
South Korea's antitrust regulator accused Google of abusing its dominant position in the Android app marketplace.
Google's alleged abuse of dominance in South Korea could affect $9.1 billion in revenue.
The South Korean regulator plans to recommend corrective measures.
The South Korean regulator plans to recommend a financial penalty.
A Swedish court has ordered Google to pay approximately $1.5 billion in antitrust damages to PriceRunner, a price comparison service owned by Klarna. The court determined that Google had illegally favored its own shopping service over a period of years, causing harm to PriceRunner. This ruling addresses allegations of anticompetitive practices within the digital marketplace.
In a separate development, South Korea's antitrust regulator has accused Alphabet's Google of abusing its dominant position in the Android app marketplace. The regulator's allegations suggest that Google's actions may have hindered competition within the market. This potential abuse of dominance could affect revenue streams amounting to $9.1 billion.
The South Korean regulator intends to recommend corrective measures and impose a financial penalty on Google. These actions are part of a broader global trend of increased scrutiny and enforcement against major technology companies regarding their market practices and potential monopolistic behavior.
↳ Why This Matters
A Swedish court has ordered Google to pay approximately $1.5 billion in antitrust damages to PriceRunner, a price comparison service owned by Klarna. The court determined that Google had illegally favored its own shopping service over a period of years, causing harm to PriceRunner. This ruling addresses allegations of anticompetitive practices within the digital marketplace.
Frequently asked questions
PriceRunner alleged that Google illegally favored its own price comparison service in search results for over a decade, causing commercial harm to PriceRunner.
PriceRunner had claimed approximately 80 billion Swedish kronor, or about €7.2 billion ($7.8 billion), in damages.
In 2017, the European Commission fined Google €2.42 billion for abusing its dominance in online search by illegally favoring its own comparison-shopping service.
Klarna's shares rose 11.5% in pre-market trading following the court's decision.
What Happens Next
01Google is expected to appeal the ruling to a higher court.
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