Smartphones and 5G technology giant Qualcomm could face a £482.5 million damages claim after being accused of overcharging for its microchip technology.
Its semiconductors power the brains of millions of popular smartphones, including Apple iPhones and Samsung handsets, and other 5G applications.
UK FUNDS EXPOSED
Nasdaq-listed Qualcomm is valued at more than $160 billion, is in the top 50 S&P 500 companies and the Nasdaq 100. That means that thousands of UK investors could be exposed to the stock through US stock market tracker funds, such as the iShares Core S&P 500 (CSP1).
Below is a list of active funds with stakes in Qualcomm, according to FE fundinfo data.
UK consumer champion Which? says that Qualcomm has breached UK competition law by taking advantage of its dominance in the patent-licensing and chipset markets.
Qualcomm has already been found liable in other markets outside the UK, including a recent court ruling by the European Commission.
QUALCOMM FIGHTS CLAIM
Qualcomm has hit back against the case, calling the claim baseless.
‘As the plaintiffs are well aware, their claims were effectively put to rest last summer by a unanimous panel of judges at the Ninth Circuit Court of Appeals in the US’, the company has said.
Investors appear to have largely batted off any perceived negative threat to the company, with Qualcomm stock staying flat at $141.10 in overnight trading.
