The European Commission today announced a $1.23 billion (997 million Euro) fine for Qualcomm, after the company paid Apple to only use its chipsets in the latest generations iPhones.
The fine, which according to EU competition rules could reach 10 percent of a company’s revenues in the previous year, represents only 4.9 percent of Qualcomm’s 2017 turnover.
“Qualcomm paid billions of U.S. dollars to a key customer, Apple, so that it would not buy from rivals. These payments were not just reductions in price – they were made on the condition that Apple would exclusively use Qualcomm’s baseband chipsets in all its iPhones and iPads,” European Competition Commissioner Margrethe Vestager said today.
The European Commission has already <a href="https://www.reuters.com/article/us-eu-qualcomm/eu-fines-qualcomm-1-2-billion-over-apple-mobile-chip-deals-idUSKBN1FC2WP?utm_campaign=trueAnthem:+Trending+Content&utm_content=5a6872ea04d30131cbe34fb1&utm_medium=trueAnthem&utm_sour… (read more)
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