Apple CEO Tim Cook delivers his opening statement to Congress

Apple CEO delivers his opening remarks to the House antitrust subcommittee. Subscribe to CNBC PRO for access to investor and analyst insights on Apple and more: https://cnb.cx/3dIH56N

Apple CEO Tim Cook told the House Antitrust Subcommittee on Wednesday that Apple doesn’t have a dominant share of the smartphone market and that it is in fierce competition with rivals including Samsung, Google and Huawei.

“Apple does not have a dominant market share in any market where we do business,” Cook said.

Cook also defended Apple’s 30% fee on digital transactions on the App Store, comparing it favorably to fees charged by brick-and-mortar retailers. Apple’s App Store policies are expected to be one of the focuses of questioning during the hearing. “Apple’s commissions are comparable or lower than commissions charged by the majority of our competitors,” Cook said.

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