Taiwan's Fair Trade Commission (FTC) has fined Apple approximately $666,700 for "restricting the prices charged by local telecom carriers for their iPhone contracts," according to Reuters.

This is the first time Apple has been fined for violating Article 18 of the Fair Trade Act.

FTC said that Apple Asia has its carriers submit pricing plans to be approved before the phone is made available, which is in violation of Taiwan's free-trade laws.

Apple has supposedly advised its three key mobile-service manufactures, Chunghwa Telecom Co., Far Eastone Telecommunication Co., and Taiwan Mobile Co., how much each should charge for iPhone devices, according to Reuters.

The iPhone company has also supposedly been asking companies to adjust their rates, according to the International Business Times.

Though the smartphone company can appeal the fine, it might cost them up to $1.6 million if it doesn't meet the terms.

FTC believes that the California-based company is not allowed to decide the price of iPhones sold by local carriers after they have already been paid for the distribution rights for each device.

Once carriers purchase distribution rights, they're allowed to sell the devices for whatever amount they feel like selling them for, said FTC spokesman Sun Lih-chyun, according to Reuters.

The fine comes the same week Apple was finally able to reach a deal with China Mobile Ltd., the largest telecom carrier in China.

Apple is hoping the deal will increase iPhone sales and help the device compete with Android devices in countries all-over the world.

The deal could help Apple sell over 40 million more phones, according to Reuters.

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