Qualcomm, the world’s No. 1 maker of smartphone chips, was fined 242 million euros, or $272 million, by the European Commission on Thursday for blocking a rival from the market about a decade ago. It’s Qualcomm’s second penalty ordered by European regulators. The European Commission accused Qualcomm of predatory pricing between 2009 and 2011 that was aimed at forcing out Icera, a British phone software maker that is now part of Nvidia. “Qualcomm’s strategic behavior prevented competition and innovation in the market,” Margrethe Vestager, the competition commissioner, said in a statement.

Source: New York Times July 18, 2019 12:24 UTC