Apple admits defeat in 2024, it will open a third-party App Store for download in Europe.

Apple's Admission of Defeat In 2024, European Users Will Finally Access a Third-Party App Store

[Mobile China News] Apple’s latest financial documents show that the company is expected to be forced to allow third-party App Stores to operate in various parts of Europe starting in 2024.

Apple App Store

After the Digital Markets Act was passed into law, the European Union previously told Apple that it must open up its App Store to competitors. Apple had tried to oppose the ruling, but now it is expected that the changes to the App Store are inevitable. In its 10-K form, Apple stated, “The Company expects to make further business changes in the future, including compliance with legislation like the European Union’s Digital Markets Act by March 2024.”

“Future changes may also affect the fees the company charges developers for accessing its platform, how outside applications are distributed outside of the App Store,” Apple continued, “and how and to what extent developers are allowed to communicate with consumers within the App Store regarding alternative purchase mechanisms.”

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Overall, opening up third-party App Stores could reduce app downloads, and the commission Apple receives from these sales would decrease. Apple stated that if the commission it receives from App Store sales decreases, it could have a significant adverse impact on the company’s business, operations, and financial condition.

Since filing this document, Apple has not commented. However, it has previously strongly opposed allowing third-party app stores and so-called app sideloading.

European Union

Analysts at Morgan Stanley believe that the new phrasing in the 10-K form confirms the forthcoming access of third parties. The analysts suggest that Apple may open third-party app stores on devices in Europe. The institution also stated, “We believe if these changes occur, Apple will be in a favorable position as the security, centralization, and convenience of the App Store undermine the potential for users to use third-party app stores.”

However, Morgan Stanley’s view on Apple’s stock price is more long-term compared to some analysts. Nonetheless, it lowered its target price to $210 in October 2023.

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