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The EU has fined Qualcomm €242 million (around $272 million) for selling 3G modem chips at predatory prices in an attempt to drive a competing supplier, Icera, out of the market. The European Commission says that the company used its market dominance to sell chips meant for mobile internet dongles at below cost between 2009 and 2011. Today’s announcement marks the end of the EU’s nearly four year long investigation into Qualcomm’s actions.
Announcing the fine, the EU’s Competition Commissioner Margrethe Vestager, said that “Qualcomm’s strategic behavior prevented competition and innovation in this market, and limited the choice available to consumers in a sector with a huge demand and potential for innovative technologies.”