- EU antitrust regulators have slapped a €997M ($1.2B) fine on Qualcomm (NASDAQ:QCOM) for paying Apple (NASDAQ:AAPL) "billions of U.S. dollars" to shun rival chips in its iPhones.
- "This meant that no rival could effectively challenge Qualcomm in this market," said EU Competition Commissioner Margrethe Vestager.
- The fine is massive, thought it's well below the more than $2B the commission could have sought under Europe's antitrust laws.
- Previously: FT: Qualcomm facing potential $2B EU fine over Apple (Jan. 23 2018)