2/6, 12:21 AM (Source: TeleTrader)
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Qualcomm under investigation over 5G chips

Semiconductor and telecommunications company Qualcomm Inc is being investigated by the European Commission on possible anti-competitive behavior on the territory of the European Union, a regulatory filing revealed.

The company is allegedly being accused of leveraging its market position in radio-frequency chips for 5G technology.

Earlier today the company reported its revenue stood at $5.1 billion in the first quarter of 2020, rising 5% on an annual basis. Meanwhile, the semiconductor-making company posted diluted earning per share (EPS) at $0.8 in the three-month period ending December to beat the estimates, despite slipping 8% year-on-year. Net income dropped 13% to $925 million in the same quarter.

Breaking the News / TF