Qualcomm Wins EU Antitrust Lawsuit Which Has An Apple Connection

June 15, 2022 6:52 AM | 1 min read |

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.
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