27
Nov
2009
Qualcomm Delighted As EU Drops Investigation
Qualcomm has showed its excitement over the decision of the European Union to halt the investigation of the company.
The EU recently initiated an antitrust investigation into the company’s affair following series of complaints from high profile telephone giants like Nokia, Ericsson and Panasonic. The complaint was that the American company was utilizing its market power to stay ahead.
It is now respite for Qualcomm as the European Union has formally decided not to continue investigation into the licensing of the CDMA and ECDMA standards, the rights to which were acquired by Qualcomm.
Don Rosenberg, Executive Vice President & General Counsel, Qualcomm Inc said Qualcomm is extremely pleased to learn of the European Commission’s announcement.
“After an extensive four-year investigation into Qualcomm’s practices, and despite the coordinated nature of the complaints made against it, the Commission has terminated its investigation with no finding of a violation.
“Throughout the investigation we have fully cooperated with the Commission, while steadfastly maintaining that our business practices have enhanced consumer welfare.
“Indeed, during the length of the investigation, the wireless industry and 3G in particular has flourished; benefiting consumers with technological advances, greater choices and lower prices.
“Qualcomm’s technology and innovations have been at the forefront of these developments and our licensing model, driven by our enormous investments in research and development, has facilitated worldwide competition in our industry.”
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