Draconian penalty for Google due to monopoly

(Patria) - American technology company Google has agreed to pay $700 million to American consumers and federal states as part of an antitrust settlement.

A federal court in San Francisco has ruled that Google's app business constitutes a violation of market competition.

Google has also committed to enabling greater competition in its Play app store, CNBC reports.

The company will pay $630 million to a consumer fund and $70 million to a fund to be used by U.S. federal states, according to the settlement which requires final judicial approval.

As part of the settlement, Google has committed to simplifying the ability for users to download apps directly from developers.

Google is also facing other lawsuits challenging its search and digital advertising practices.