The EU hit U.S. chipmaking giant Qualcomm with an antitrust fine of 242 million euros (271 billion U.S. dollars) on Thursday for blocking a rival from the market about a decade ago.
The European Commission, the EU’s competition regulator, accused Qualcomm of predatory pricing between 2009 and 2011 aimed at forcing out British phone software maker Icera, now part of Nvidia Corp.
“Qualcomm’s strategic behavior prevented competition and innovation in the market,” Competition Commissioner Margrethe Vestager said in a statement.
The EU competition enforcer has the power to fine companies up to 10 percent of global sales, but fined Qualcomm about two percent of its world turnover, which stood at 22.73 billion U.S. dollars in 2018.
The fine is the second mega penalty leveled against Qualcomm by Brussels, which made it pay 997 million euros (1.1 billion U.S. dollars) last year for paying iPhone maker Apple to use only its chips, a tactic aimed at thwarting rivals including Intel.
(With input from Reuters, AFP)