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Home Investing

Qualcomm wins fight against $1 billion EU antitrust fine By Reuters

by Trading How
June 15, 2022
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Qualcomm wins fight against $1 billion EU antitrust fine
© Reuters. FILE PHOTO: A lady walks previous a counter displaying cell phones on the Qualcomm sales space through the 2021 China Worldwide Truthful for Commerce in Companies (CIFTIS) in Beijing, China September 4, 2021. REUTERS/Florence Lo

By Foo Yun Chee

LUXEMBOURG (Reuters) -U.S. chipmaker Qualcomm (NASDAQ:) on Wednesday gained its struggle towards a 997 million euro ($1.05 billion) nice imposed by EU antitrust regulators 4 years in the past, dealing a significant setback to EU antitrust chief Margrethe Vestager’s crackdown on Huge Tech.

The European Fee in its 2018 determination mentioned Qualcomm paid billions of {dollars} to Apple (NASDAQ:) from 2011 to 2016 to make use of solely its chips in all its iPhones and iPads as a way to block out rivals corresponding to Intel Corp (NASDAQ:)

Qualcomm’s nice is one in all a number of imposed by Vestager on firms starting from Alphabet (NASDAQ:) unit Google to banks and truckmakers over anti-competitive practices. Apple, Amazon (NASDAQ:) and Fb (NASDAQ:) are being investigated.

The Basic Courtroom, Europe’s second-highest, annulled the EU discovering and faulted the EU competitors enforcer over the dealing with of the case.

“Various procedural irregularities affected Qualcomm’s rights of defence and invalidate the Fee’s evaluation of the conduct alleged towards Qualcomm,” judges mentioned.

“The Fee didn’t present an evaluation which makes it doable to help the findings that the funds involved had truly lowered Apple’s incentives to modify to Qualcomm’s rivals as a way to receive provides of LTE chipsets for sure iPad fashions to be launched in 2014 and 2015,” they mentioned.

The EU competitors enforcer can attraction on issues of regulation to the EU Courtroom of Justice (CJEU), Europe’s highest court docket.

The Fee mentioned it will fastidiously examine the judgement and its implications and think about its subsequent steps.

That is the second main defeat for Vestager who in January misplaced the court docket’s backing for a 1.06 billion euro nice on Intel 12 years in the past for squeezing rival Superior Micro Gadgets (NASDAQ:).

Vestager’s subsequent take a look at is on Sept. 14 when the Basic Courtroom will rule on Google’s problem towards a file 4.34 billion euro antitrust nice levied for utilizing its Android cellular working system to squeeze out rivals.

The case is T-235/18.

($1 = 0.9532 euros)



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