EU fines Qualcomm $271 million for ‘predatory pricing’

In yet another European Union move against a U.S. tech giant, the bloc’s antitrust chief on Thursday fined chipmaker Qualcomm $271 million, accusing it of “predatory pricing” to drive a competitor out of the market.

EU Antitrust Commissioner Margrethe Vestager said Qualcomm was abusing its market dominance in 3G baseband chipsets. She said it sold them below the cost of production to force startup Icera out of the market almost a decade ago.

Icera was based in Britain and was seen as a rival that could eventually threaten Qualcomm’s dominance. Vestager said the market was too important to tolerate such abuse.