Europe fines Qualcomm €242m for 'predatory pricing'

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It is shaping up to be a busy week at the European Commission which is targeting another US company - this time chip-maker Qualcomm.

It has fined Qualcomm €242m (£217m) for "abusing its market dominance" in 3G baseband chipsets by charging prices below cost to force competitor, Icera, out of the market.

Competition Commissioner Margrethe Vestager said: "Baseband chipsets are key components so mobile devices can connect to the Internet.

"Qualcomm's strategic behaviour prevented competition and innovation in this market, and limited the choice available to consumers in a sector with a huge demand and potential for innovative technologies."

It said Qualcomm sold the chipsets to Chinese giants Huawei and ZTE "with the intention of eliminating Icera, its main rival at the time".

Qualcomm is yet to respond.

Japanese mobile carriers shun Huawei and ZTE

Huawei store

Japan's three major mobile phone carriers have decided not to use Chinese equipment in their 5G networks due to security worries, according to Japanese media.

It comes as Japan has decided effectively to exclude Chinese tech giants Huawei and ZTE from public procurement from April, according to Kyodo News.

Japan joins various other countries who have either been shunning Chinese equipment or raised concern about their use on grounds of national security.

China's ZTE squeezes out profit

ZTE research institute , located in Tianjin Binhai New Area.
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Chinese telecoms giant ZTE reported a net profit of 564 million yuan ($81.2m; £63.3m) in the third quarter, but that was down 65% from the same period last year, according to media reports.

In July, the US lifted an order that blocked ZTE from doing business with US companies, allowing it to resume operations.

Despite this, the firm still expects a full-year loss of between 6.2 billion yuan and 7.2 billion yuan, the reports said.

Investors seemed cheered by the news however - ZTE's Hong Kong shares rose by as much as 3.6% following the trading update.

China tech shares crash

Chinese tech stocks plunged on Friday amid rising jitters about IT security.

The cause wasn't immediately clear, but follows a report from Bloomberg that US tech firms and agencies have had data stolen by Chinese spies.

The data had been siphoned off via tiny chips inserted on server circuit boards, the report said.

In morning Hong Kong trading, computer maker Lenovo tumbled more than 20%, while the Hong Kong listed-shares of equipment maker ZTE dropped more than 14%.