Brussels (Belgium): The European Union Commission has slapped a fine of 242 million euros on Qualcomm for engaging in predatory pricing.
In an official statement, Commissioner Margrethe Vestager, in charge of competition policy, said that Qualcomm sold 3G baseband chipsets at reduced prices to its key customers, abusing its dominant position and eliminating competitor Icera out of the market.
Baseband chipsets allow smartphones and tablets to connect to cellular networks and are used for both voice and data transmission.
Qualcomm abused its dominance between mid-2009 and mid-2011 by engaging in the illegal practice and selling the chipsets to Huawei and ZTE. (ANI)