EU Commission fines Qualcomm for second time over market abuse

), the world’s no.1 chipmaker, was fined 242 million euros by the European Commission on Thursday for blocking a rival from the market about a decade ago, its second EU antitrust penalty.

European Competition Commissioner Margrethe Vestager addresses a news conference on an antitrust case in Brussels, Belgium July 18, 2019. REUTERS/Yves Herman The European Commission, the EU’s competition regulator, accused Qualcomm of predatory pricing between 2009 and 2011 aimed at forcing out British phone software maker Icera, now part of Nvidia Corp .

“Qualcomm’s strategic behavior prevented competition and innovation in the market,” Competition Commissioner Margrethe Vestager said in a statement. In a news conference, she later defended the time it had taken to reach a decision - the Commission first accused the company of predatory pricing in 2015 - saying it had been a complex case that depended on evidence from Qualcomm.Qualcomm said it would appeal the decision, saying it was “unsupported by the law, economic principles or market facts.”

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