Litigation involving Apple Inc.

The U.S. Department of Justice has sued Apple, accusing the tech giant of illegally maintaining a monopoly for its iPhone by stifling competition and imposing exorbitant costs on consumers.

The lawsuit, also brought by multiple U.S. states, said Apple raked in hundreds of billions of dollars by allegedly making it difficult for consumers to switch to cheaper smartphones and devices.

After a years-long legal battle, Apple has said that it will begin allowing iPhone app developers to use alternative payment systems — but they will still have to pay fees and meet various conditions.

Apple said on Tuesday it will appeal a U.S. ban on its latest smartwatch models after the Biden administration opted to not veto a ruling on patent infringements.

The ban on Apple's latest smartwatch models came into effect Tuesday, with the Apple Watch Series 9 and Apple Watch Ultra 2 no longer available in stores or online.

Apple has reported that sales fell for the fourth consecutive quarter when compared to the prior year, but profit rose on the back iPhones and services.

The tech giant made a profit of $23 billion on revenue of $89.5 billion, which was down slightly from the same period last year.

Apple chief executive Tim Cook said iPhone sales set a new record for its September quarter.