Qualcomm Loses EU Market Abuse Case Over Low Chip Pricing

Qualcomm Inc. lost a European Union court fight over a multi million euro fine over allegations the US firm priced some chips low enough to squeeze out a smaller rival.

The EU’s General Court backed the European Commission’s findings on market abuse but said the €242 million ($269 million) fine was too high, cutting the penalty to €239 million in a ruling on Wednesday.

EU officials targeted Qualcomm’s sale of 3G chips for mobile “dongles” plugged into machines to connect them to the internet, sold between 2009 and 2011. Regulators said they were sold below cost to Huawei Technologies ...