According to a new report from Bloomberg, the European Commission is planning to slap Apple with a fine of as much as 10 percent of the company's global annual sales. The EU would levy the fine as a result of Apple's failure to let third-party app developers promote cheaper deals for their software outside the App Store.

Apple may soon be facing a hefty fine from the EU over its App Store policies. It would be the first time the iPhone maker will be penalized under the EU’s Digital Markets Act (DMA). Apple to be the first company penalized under the EU’s DMA for its App Store policies Apple was declared guilty of enforcing “steering” policies on its App Store by the EU earlier this year.