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Qualcomm fined $271 million over ‘predatory pricing’


The European Commission fined U.S.-based chipmaker Qualcomm Inc. $271 million for allegedly using "predatory pricing" to drive U.K.-based Icera Inc. out of the 3G phone hardware market, CNN reported. Margrethe Vestager, the competition regulator's commissioner, said that Qualcomm acquired a 60% share of the market after selling smartphone components at a price below cost to key customers between 2009 and 2011.

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