The European Commission has announced it will slap Apple chip-manufacturer Qualcomm with a staggering $1.2 billion fine (€997 million) “for abuse of dominant market position.”
EU Commissioner for Competition Margrethe Vestager announced the punishment at a press conference in Brussels this morning.
“The European Commission has fined Qualcomm €997m for abusing its market dominance in LTE baseband chipsets,”the Commission said in a press release.
“Qualcomm prevented rivals from competing in the market by making significant payments to a key customer on condition it would not buy from rivals.
This is illegal under EU antitrust rules.”
The fine, which represents 4.9 percent of Qualcomm’s turnover in 2017, takes account of the duration and gravity of the infringement.