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Benzinga
Benzinga
Politics
Anusuya Lahiri

Qualcomm Wins EU Antitrust Lawsuit Which Has An Apple Connection

Apple Qualcomm European Union Nasdaq QCOM Europe European Commission General Court Intel Corporation Qualcomm Inc
  • Qualcomm Inc (NASDAQ:QCOM) clinched victory against a €997 million ($1.05 billion) penalty slapped by EU antitrust regulators, Reuters reports.
  • The EU imposed the fine four years back for paying Apple Inc (NASDAQ:AAPL) to use only its chips and block out rivals like Intel Corp (NASDAQ:INTC).
  • Also Read: Qualcomm Agrees To Work With Europe's Foundry Partners: Reuters
  • The European Commission alleged Qualcomm of engaging in anti-competitive practice between 2011 and 2016 by paying billions of dollars to Apple to use its chips in all its iPhones and iPads.
  • The General Court, Europe's second-highest, rejected the EU finding citing procedural irregularities.
  • Price Action: QCOM shares traded higher by 0.49% at $130.90 in the premarket on the last check Wednesday.
  • Photo via Wikimedia Commons
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