The United States Justice Department launched a significant lawsuit against Apple on Thursday, alleging that the tech giant has created an unlawful monopoly in the smartphone industry, limiting competition and hindering innovation. The Apple logo is shown on a screen during an announcement on the Apple campus Sept. 12, 2023, in Cupertino, Calif. (AP) The lawsuit, filed in a federal court in New Jersey, accuses Apple of holding a monopoly in the smartphone market and utilising its dominance over the iPhone to engage in various illegal practices. Hindustan Times - your fastest source for breaking news! Read now. "Consumers should not have to pay higher prices because companies violate the antitrust laws," Attorney General Merrick Garland said in a statement. "If left unchallenged, Apple will only continue to strengthen its smartphone monopoly." ALSO READ- Alert! High severity warning for Apple iPhone and iPad users. Follow these 6 steps to protect your device Why is Apple sued?1. The lawsuit said it aims to challenge Apple's business model, which involves charging premium prices for its technology products. The Justice Department seeks to provide users with more choices in how apps can interact with Apple's hardware. 2. The lawsuit alleged that Apple leverages its market power to extract more money from various stakeholders, including consumers, developers, content creators, artists, publishers, small businesses, and merchants. This practice ultimately impacts consumers by increasing costs. ALSO READ- "˜Steve Jobs was a natural"™: Why did Bill Gates laud Apple co-founderˈH]