European Union fines chipmaker Qualcomm $271 million_00.1
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European Union fines chipmaker Qualcomm $271 million

European Union fines chipmaker Qualcomm $271 million_50.1

European Union has fined US based chipmaker Qualcomm $271 million, accusing it of “predatory pricing” to drive a competitor out of the market.

Baseband chipsets are key components of mobile devices which enables it to connect to the internet. Qualcomm sold these products at a price below cost to key customers with the intention of eliminating a competitor.

Source: The Live Mint

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