Apple plans to let rival app stores on iPhones in EU

Apple Inc is preparing to allow alternative app stores on its iPhones and iPads in the European Union as soon as late next year to comply with a new European competition law that it had fought, Bloomberg News reported on Tuesday, citing sources familiar with the matter.

Opening up to outside app stores could present a major threat to Apple's fast-growing services business, but rivals would first have to surmount the hurdle of convincing consumers to leave the security and simplicity of using Apple's own store.

The magnitude of consequences depends on how the U.S. company complies with additional mandates in the European law, known as the Digital Markets Act (DMA).

Microsoft Corp, Meta Platforms Inc, Amazon.com Inc and other companies with app stores could receive boosts to sales as a result of Apple's planned change on rival storefronts.

Apple declined to comment, and Meta, Amazon and Microsoft did not immediately respond to requests for comment.