The Justice Department on Thursday announced a sweeping antitrust lawsuit against Apple, accusing the tech giant of engineering an illegal monopoly in smartphones that boxes out competitors, stifles innovation and keeps prices artificially high. The lawsuit, filed in federal court in New Jersey, alleges that Apple has monopoly power in the smartphone market and leverages control over the iPhone to engage in a broad, sustained, and illegal course of conduct. Apple has locked its consumers into the iPhone while locking its competitors out of the market, said Deputy Attorney General Lisa Monaco. Stalling the advancement of the very market it revolutionised, she said, it has "smothered an entire industry. Apple called the lawsuit wrong on the facts and the law and said it will vigorously defend against it. The sweeping action takes aim at how Apple molds its technology and business relationships to extract more money from consumers, developers, content creators, artists, publishers, sm Read The Rest at :