Qualcomm loses appeal of EU's $669,000-a-day threat

From CNET: The US chipmaker lost an appeal of a $669,000-a-day penalty that could be imposed upon it by the European Commission, Reuters reported Monday.

The Commission has threatened Qualcomm with a daily fine amounting to 580,000 euros (about $669,000) for failing to submit information it requested. The EC has charged the company with employing unfair, monopolistic practices to beat its British rival, Icera.

In a court filing seen by Reuters, Qualcomm said the request involved an extensive amount of work and incurred financial costs estimated to be no less than 3 million euros ($3.45 million).

The appeal was dismissed by court president Marc Jaeger, who said Qualcomm "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," he added.

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