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Qualcomm Fined By EU Competition Commission

Qualcomm Fined By EU Competition Commission

She said she had internal documents showing Apple considered switching some of its work to Intel but could not do so financially until the end of the agreement. The fine could in theory go as high as 10 percent of Qualcomm's annual revenue, which was $22.2 billion (roughly Rs. 1.41 lakh crores) for its most recent fiscal year.

The fine is the latest blow struck by the European Union against United States tech giants and also a fresh hit for Qualcomm, the leading global supplier of smartphone chips, following another antitrust fine of $800 million imposed by authorities in Taiwan previous year.

"The agreement made clear that Qualcomm would cease these payments, if Apple commercially launched a device with a chipset supplied by a rival".

EU Commissioner Margrethe Vestager said that San Diego-based Qualcomm "illegally shut out rivals from the market" for more than five years by paying key customer Apple to not use chips made by Qualcomm's rivals.

Qualcomm has now released an official statement and the company has said that it is appealing the ruling.

The European Union on Wednesday slapped a $1.23 billion fine on USA chipmaker Qualcomm for abusing its market dominance in the lucrative sector of components in smartphones and tablets for half a decade.

The Danish commissioner said that Qualcomm had "denied consumers and other companies more choice and innovation".

Don Rosenberg, executive vice president and general counsel of Qualcomm, said: "We are confident this agreement did not violate EU competition rules or adversely affect market competition or European consumers".

Olds called the decision "a very aggressive judgement from the EC and a signal that they're looking to take the lead when it comes to keeping tech companies in check".

Qualcomm's management is under pressure to show shareholders it can manage the Apple dispute and battles with regulators that have already led to fines in China and South Korea. "This means that any company, regardless of geography, can be a target for European Union regulators if those companies do any business in the EU". That means that Qualcomm could eventually have the fine lowered on appeal., he said. Apple is the customer, this person said.

Apple alleged Qualcomm gave it a discount on royalty payments in exchange for exclusively using Qualcomm's so-called modem chips.

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