EU Fines Chipmaker Qualcomm For Predatory Pricing

The European Union has fined U.S. chipmaker Qualcomm $271 million, accusing it of “predatory pricing.”

EU Antitrust Commissioner Margrethe Vestager said Thursday the U.S. company was abusing its market dominance in 3G baseband chipsets and said it sold below cost to force out a competitor.

Vestager said the market was too important to tolerate such abuse. She said “baseband chipsets are key components so mobile devices can connect to the internet. Qualcomm sold these products at a price below cost to key customers with the intention of eliminating a competitor.”―US News