News Summary

• The Competition and Markets Authority (CMA) is proposing to designate Apple and Google with ‘strategic market status’ (SMS) in each of their mobile platforms.
• The UK app economy generates an estimated 1.5% of the UK’s GDP and supports around 400,000 jobs here.
• Fintech stands out, attracting over £18 billion in inward investment over the past 3 years.
• Meanwhile, gaming contributes £6 billion to the UK economy, with mobile gaming alone bringing in nearly £2 billion a year.