EU fines chipmaker qualcomm for "predatory pricing"

Added On July 20, 2019

EU Competition Commissioner Margrethe Vestager on Thursday said Qualcomm had abused its dominant global market position and sold its baseband chipsets "at a price below cost to key customers with the intention of eliminating a competitor."
The European Commission said the fine represents 1.27 percent of Qualcomm's turnover in 2018 and is also aimed at deterring market players from engaging in such anti-competitive practices in the future.
Qualcomm said it plans to appeal the fine to an EU court and denied the charges.