Google has lost its fight over a record $4.7 billion EU antitrust fine after Europe's top court upheld the penalty on Thursday. The European Court of Justice (ECJ) dismissed Google's appeal against the fine, which was imposed by the European Commission in 2018 for allegedly abusing Android's mobile dominance to give unfair advantage to its own apps via pre-installation deals with smartphone makers.

The fine remains one of the largest ever imposed on a technology firm by European regulators. The European Commission had initially slapped Google with a $4.34 billion penalty, but this was reduced to $4.1 billion in 2022 after a lower EU court intervened.

Google has been appealing the ruling through the EU court system for several years and has now exhausted all avenues of appeal. The ECJ's decision is seen as a significant development in the ongoing saga between Google and EU regulators, who are pushing for greater transparency and accountability from big technology companies.

The European Commission has been pursuing Google for more than a decade after first opening proceedings against the company in 2015. Last year, the Commission hit Google with a $2.95 billion fine for anti-competitive practices in its advertising technology business.

The EU's Digital Markets Act aims to regulate the practices of big technology firms, particularly when it comes to data sharing and competition. The law is still in its early stages, but it has already sparked controversy among tech giants. Google's fine is seen as a test case for the new regulations, and the company's failure to overturn the penalty may set a precedent for other tech firms.

The European Commission has yet to comment on the ruling, while Google declined to comment when approached by CNBC. The outcome of this case will have significant implications for the technology industry, particularly in Europe where regulators are pushing for greater transparency and accountability from big technology companies.