US chipmaker Qualcomm faces the threat of a daily fine of €580,000 (US$665,000) for failing to provide EU antitrust regulators with information after missing a July 30 deadline and losing an appeal against the penalty in a European Union court on Monday.
Qualcomm, which was charged by the European Commission for using anti-competitive methods to squeeze out British phone software maker Icera, last month asked the Luxembourg-based General Court to suspend the order.
The company said the EU competition authority’s demand entailed enormous work and significant financial costs estimated at no less than 3 million euros (US$3.44 million) as it involved more than 50 employees and 16 external advisers, according to its court filing.
Court President Marc Jaeger dismissed the appeal in a July 12 ruling saying, “The applicant does not claim that its financial viability would be at risk or that its market share could be affected substantially… Furthermore, it does not give any explanation as to why it would be impossible to seek compensation for the alleged financial costs it would suffer by answering the questions.”
Full Content: Reuters
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