Apple will soon become the first company to be fined for violating the European Digital Markets Act (DMA), Bloomberg reports.

Regulators are preparing a fine after the company failed to allow app developers to direct users to cheaper offers outside the App Store.

The amount of the fine is not yet known, but the DMA provides that companies can be fined up to 10% of their annual global revenue, and up to 20% for repeated violations.

Based on Apple’s revenue last year, the initial EU fine could be up to $38 billion. The Commission may announce the fine as early as November 2024, before Margrethe Vestager, the head of the antitrust agency, resigns.

Earlier, the company was already fined €1.84 billion due to a lawsuit filed by Spotify. The music streaming service complained that Apple prevents users from informing about payment methods outside the App Store. The company is currently appealing the fine.