UPDATE 1-EU Commission fines Qualcomm for second time over market abuse [Reuters]
NVIDIA Corporation (NVDA)
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Source: Reuters
EU Commission fines Qualcomm for second time over market abuse - Reuters 3 Min Read BRUSSELS (Reuters) - Qualcomm ( QCOM.O ), the world’s no.1 chipmaker, was fined 242 million euros ($272 million) by the European Commission on Thursday for blocking a rival from the market about a decade ago, its second EU antitrust penalty. The European Commission, the EU’s competition regulator, accused Qualcomm of predatory pricing between 2009 and 2011 aimed at forcing out British phone software maker Icera, now part of Nvidia Corp ( NVDA.O ). “Qualcomm’s strategic behavior 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. The fine amounts to 1.27% of Qualcomm’s turnover in 2018. Qualcomm said it wou
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