Jan 24, 2018
EU fines chipmaker Qualcomm £870m for Apple payments
The EU's Competition Commission said Qualcomm had "Prevented rivals from competing in the market". Competition Commissioner Margrethe Vestager said Qualcomm had "Illegally shut out rivals" from the market for more than five years. In January 2017 US regulators claimed that Qualcomm had forced Apple to exclusively use its products in return for lower fees. The commission sued Qualcomm for unfair practices in the way it licenses its technology - especially the processors used in cell phones and other devices. Qualcomm said the offer, which is potentially the largest tech sector takeover to date, "Dramatically undervalued" the company.
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