Qualcomm fined $1.2 billion by the EU for paying off Apple


Qualcomm has been hit by a fine of €997 million ($1.2 billion) from the European Union for violating antitrust laws in a series of deals with Apple.

The US chipmaker is accused of paying the iPhone-maker billions of dollars between 2011 and 2016 to exclusively use Qualcomm’s LTE chips in its devices. “This meant that no rival could effectively challenge Qualcomm in this market, no matter how good their products were,” said EU competition commissioner Margrethe Vestager in a press statement. “This is illegal under EU antitrust rules and why we have taken today’s decision.”

The fine is significant in and of itself, but it’s also important considering Qualcomm’s wider, weakened position in the market. The company is not only being sued by...

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via The Verge - Tech Posts "http://ift.tt/2GbSXyr"

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