U.S. judge rules Qualcomm’s practices violate antitrust laws

FILE PHOTO: A sign on the Qualcomm campus is to see in San Diego, California, USA November 6, 2017. REUTERS/Mike Blake

(Reuters) – Qualcomm Inc unlawfully suppressed competition in the market for mobile chips and used its dominant position to exact excessive licensing fees, a federal judge ruled on Tuesday.

Qualcomm did not immediately respond to a Reuters request for comment.

Shares of the company fell 12% to $68.40 in trading before the bell on Wednesday.

Reporting by Sayanti Chakraborty in Bengaluru; Editing by Arun Koyyur

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