Luxembourg’s General Court Eases Qualcomm’s Fine To 238.7 Million Euros
The company reiterated that it had complied with EU laws
By: : Daniel
Update: 2024-09-18 12:00 GMT
Luxembourg’s General Court Eases Qualcomm’s Fine To 238.7 Million Euros
The company reiterated that it had complied with EU laws
The General Court in Luxembourg has upheld an antitrust fine against US chipmaking giant Qualcomm but reduced the penalty to 238.7 million euros ($265 million).
In 2019, the European Union hit Qualcomm with a fine of 242 million euros on discovering that in a bid to eliminate a competitor, the company engaged in "predatory pricing.”
The dispute arose when British company Icera, acquired by chip titan Nvidia in 2019, accused Qualcomm of anti-competitive practices.
However, the court rejected Qualcomm's appeal against the fine, noting it had made a "detailed examination of all the pleas." But the judge made an "exception of a plea concerning the calculation of the fine, which was well-founded in part."
In a statement, Qualcomm said, “The company respectfully disagrees with the judgment and the Commission's decision and believes that we have always remained in compliance with European competition laws.”