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EU Hands Qualcomm $271 Million Fine

The European Commission has imposed a fine of €242 million (around $271 million) on U.S. chipmaker Qualcomm for behavior it termed "predatory pricing". The EU is alleging Qualcomm at some time abused its market dominance in 3G baseband chipsets by selling them at below production cost with an aim to force competitor Icera out of the market. Such activity is illegal under EU antitrust law.

The EU alleges Qualcomm abused its market dominance between mid-2009 and mid-2011 by selling certain 3G baseband chipsets below production cost to Huawei and ZTE, claiming this was done with an aim of eliminating Icera, Qualcomm's main rival in the 3G baseband market as at that time. An investigation into Qualcomm was first launched by the European Commission in 2015.


The European Commission opened a formal investigation on the 16th of July 2015 and sent out a Statement of Objections [a document stating preliminary concerns of its investigation] on 8 December 2015. Another Statement of…

Ride-Hailing company Grab gets $1 Billion investment from Toyota at a $10 Billion Valuation


image credit : Grab

Singaporean based ride-hailing technology company Grab which has dominated ride-hailing operations in the South East Asian region and also previously acquired Uber's Business operations in the area has now raised a huge extra funding from a notable automobile investor, Toyota to be precise has made its largest startup investment to date investing $1 Billion into Grab Holdings to speed up its co-operation and expand its operations in the ride-hailing business.

Toyota amidst this investment has also taken a board seat at the company while also appointing another as an executive director to play a huge role in the growth of Grab's and Toyota's investment.

The two companies had partnered with each other prior to this investment to develop connected services for the ride-hailing company indicating that this huge investment will be made to greatly expand the company's transportation and mobility services.

Grab had previously raised a total of over $4 Billion worth of investment from a slew of investors including major tech investor Softbank and Chinese ride-hailing behemoth Didi Chuxing, The company also took a most recent Series G round from automobile company Hyundai.

This investment comes as the ride-hailing space is really boosting its competitiveness and expansion, So many ride-hailing companies have gotten huge valuations including Taxify which recently raised $175 million in a round led by Daimler at a $1 Billion Valuation and also Gett which recently raised $80 million in a round led by Volkswagen at a $1.4 Billion valuation.


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