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Qualcomm was fined 242 million euros by the European Commission

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Qualcomm was fined 242 million euros by the European Commission
July 18
13:00 2019

Acting as an anti-trust authority, the European Commission has issued a fine to a chip manufacturer Qualcomm.  The company has to pay € 242 million for artificially reducing prices for their products.

The European Commission has reported that they are talking about violations that occurred in 2009-2011. Then the company majored in selling chips for 3G networks that were installed in phones. Qualcomm was selling components to its partners Huawei and ZTE at a knowingly lower price. This was done to push Icera out of the segment. It should be noted that now Icera belongs to Nvidia.

The fine is equal to 1.3% of the Qualcomm’s revenue for 2018.

Last year, the company was fined too. They had to pay almost a billion euros. A bribe was the reason for the punishment. Qualcomm paid huge amounts of money to Apple, so that it did not purchase chips for smartphones from other manufacturers.

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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