Apple to open iPhone to alternative app stores, lower fees in Europe

Apple has unveiled a sweeping plan to tear down some of the competitive barriers that it has built around its lucrative iPhone franchise.

The announcement on Thursday comes as it moves to comply with upcoming European regulations aimed at giving consumers the choice to use alternative app stores.

The overhaul, scheduled to take effect in early March, will include concessions that Apple had previously refused to make in its app store, including lowering the fees that it collects from developers in Europe.