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Qualcomm Just Got Fined $1.23 Billion for Illegal Payments to Apple

Fortune is reporting that  Qualcomm has been hit with a massive $1.23 billion antitrust fine in the European Union, for illegally paying billions of dollars to Apple to make sure that its components were used in iPhones and iPads.

Reporter David Meyer writes: “The payoffs ensured that rival manufacturers of LTE baseband chipsets—the components that let mobile devices connect to cellular networks in order to provide internet connectivity—had no chance of getting into Apple’s devices for half a decade.”

The commission found that Qualcomm effectively shut down competition in the market, no matter how good competitors’ products were.

Read the Fortune article.

 

 

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