Qualcomm shares slide more than 10% after damning antitrust ruling
Judge Lucy Koh laid out a list of practices that she said used Qualcomm's dominant position in the market to squeeze rivals out of contracts
Bengaluru — Qualcomm used unlawful, anticompetitive practices to license patents for modems used in mobile phones, a judge has ruled in a case brought by the US trade regulator, ordering it to renegotiate major deals and change how it does business. Shares of the company, which have soared since it settled a major and long-running licensing dispute with Apple earlier in 2019, sank 13% to $67.50 in trading before the bell. In a detailed, 230-page ruling on the case brought by the Federal Trade Commission, US District Judge Lucy Koh laid out a list of practices that she said used Qualcomm's dominant position in the market to squeeze rivals out of contracts and force cellphone makers to pay more for its patents. She ordered that Qualcomm renegotiate licensing agreements with customers without using the threat of a halt in supplies as part of its tactics, and at fair and reasonable prices, adding the company would be monitored for seven years to ensure it complies. "Qualcomm's licensing...
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