European Union investigating Qualcomm over 5G
Along with quarterly earnings, Qualcomm disclosed on Wednesday that European regulators are investigating whether the wireless giant leveraged its position in the 5G modem business to boost its position in radio frequency chips.
Context: Qualcomm has tangled frequently with regulators around the globe. It has faced previous issues in Europe and a settled probe in China, and is now fighting an unfavorable ruling in the U.S.
Qualcomm said in a regulatory filing that it received a request for information from European regulators on Dec. 3 and is in the process of responding.
- While it doesn't believe its business practices violate the law, it said "it is difficult to predict the outcome of this matter" and noted it could be fined up to 10% of annual revenue.