Qualcomm Earns Legal Reprieve From EU Regulators Over Antitrust Ruling With An Apple Link

EU antitrust regulators do not look to challenge a court ruling scrapping its €997 million ($991 million) penalty against U.S. chipmaker Qualcomm Inc QCOM, Reuters reports.
The regulators found it challenging to convince Europe's top court of the merits.
In its June judgment, the Luxembourg-based General Court, Europe's second-highest, said procedural irregularities had affected Qualcomm's rights of defense.
Also Read: Key Takeaways From Amazon's Antitrust Case Settlement With EU Regulators; UK Watchdog Launches Similar Probe
Judges also invalidated the Commission's analysis that payments made by Qualcomm to Apple Inc AAPL were anti-competitive because the regulator had not considered all the relevant facts.
In 2018, the EU imposed the penalty for paying Apple to use only its chips and block out rivals like Intel Corp INTC
The European Commission alleged Qualcomm engaged 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.
EU antitrust chief Margrethe Vestager handed out billion-euro fines to Alphabet Inc GOOG GOOGL Google and opened investigations into Amazon.com Inc AMZN, Apple, and Meta Platforms Inc META as part of her crackdown on Big Tech.
Price Action: QCOM shares traded lower by 1.23% at $136.88 in the premarket on the last check Monday.