- Qualcomm Inc QCOM clinched victory against a €997 million ($1.05 billion) penalty slapped by EU antitrust regulators, Reuters reports.
- The EU imposed the fine four years back for paying Apple Inc AAPL to use only its chips and block out rivals like Intel Corp INTC.
- Also Read: Qualcomm Agrees To Work With Europe's Foundry Partners: Reuters
- The European Commission alleged Qualcomm of engaging in anti-competitive practice between 2011 and 2016 by paying billions of dollars to Apple to use its chips in all its iPhones and iPads.
- The General Court, Europe's second-highest, rejected the EU finding citing procedural irregularities.
- Price Action: QCOM shares traded higher by 0.49% at $130.90 in the premarket on the last check Wednesday.
- Photo via Wikimedia Commons
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