EU fines Qualcomm almost €1bn for paying Apple to use its microchips

The European Union has slapped a €1 billion fine on US chipmaker Qualcomm for abusing its market dominance in the lucrative smartphone and tablet components sector.

The European Union has slapped a €1 billion fine on US chipmaker Qualcomm for abusing its market dominance in the lucrative smartphone and tablet components sector.

EU Commissioner Margrethe Vestager said San Diego-based Qualcomm "illegally shut out rivals from the market" for more than five years by paying key customer Apple not to use chips made by Qualcomm’s competitors.