EU Commission fines chip maker Qualcomm for second time over market abuse

European Competition Commissioner Margrethe Vestager addresses a news conference on an antitrust case in Brussels, Belgium July 18, 2019.Qualcomm, the world’s no.1 chip maker, was fined €242-million by the European Commission on Thursday for blocking a rival from the market about a decade ago, its second EU antitrust penalty.

“Qualcomm’s strategic behaviour prevented competition and innovation in the market,” Competition Commissioner Margrethe Vestager said in a statement.In a news conference, she later defended the time it had taken to reach a decision – the Commission first accused the company of predatory pricing in 2015 – saying it had been a complex case that depended on evidence from Qualcomm.Qualcomm said it would appeal the decision, saying it was “unsupported by the law, economic principles or market facts.

The Commission is investigating another U.S. chip maker, Broadcom, over whether it hampers rivals. Vestager said the Commission may impose so-called interim measures, which are typically warnings to change behaviour, in early autumn.

Source: News Formal (newsformal.com)

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