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EU fines chipmaker Qualcomm $1.2 billion over exclusivity deal with Apple

BRUSSELS: US chipmaker Qualcomm Inc was hit with a 997 million euro ($1.23 billion) fine by European Union antitrust regulators on Wednesday for paying Apple Inc to use only its chips, blocking out rivals such as Intel Corp. The EU decision is the latest in a series by global regulators that have amounted to billions of dollars in fines and require changes in Qualcomm business. The contract at issue with Apple is no longer in force, and Qualcomm already faces more competition from Intel and other rivals. Still, the EU decision could make Qualcomm more vulnerable to chipmaker Broadcom Ltd’s $103 billion hostile bid, since Broadcom argues it can smooth rocky relations with customers such as…