Qualcomm Wins EU Antitrust Lawsuit Which Has An Apple Connection

• 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