Chipmaker Qualcomm receives a fine of 242 million euros from the European Commission for abusing its market position. The committee announced this on Thursday.
The company sold chips for 3G internet below cost, and thus outdated competition. This is contrary to European Union competition rules. According to European Competition Commissioner Margrethe Vestager, Qualcomm deliberately tried to eliminate a competitor by influencing prices.
“This strategic behavior impeded competition and innovation in this market, and limited consumer choice.”