Qualcomm loses data dispute with EU antitrust regulators
QUALCOMM Inc.
$163.30
13:05 25/04/24
Chipmaker Qualcomm lost a data dispute with the European Union antitrust regulator after Europe’s top court ruled against it on Thursday.
Nasdaq 100
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12:15 25/04/24
The case in point has already landed the company a €242m fine which is on top of €1.2bn in other fines that Qualcomm has already run-up in its run-ins with the Commission over the last three years.
Two previous cases against Qualcomm had already addressed its market power and its use to block rivals including Intel.
The start of the current case goes back to 2017 and had been appealed by Qualcomm twice before it went to the European Union Court of Justice.
“Having regard to the broad powers of investigation conferred on the Commission by Regulation No 1/2003, it is for the Commission to decide whether a particular item of information is necessary to enable it to bring to light an infringement of the competition rules,” ECUJ judges said this week.
There is a third case against Qualcomm from the EC which remains unresolved.