Qualcomm has expressed its delight over the European Union's decision to drop its investigation into the company.
The EU had launched an antitrust investigation into the company after complaints from some high profile industry giants like Ericsson, Nokia and Panasonic – who suggested that the US company was using its market power to stay ahead.
However, the EU has now formally dropped its investigation into the licensing around the CDMA and ECDMA standards – which Qualcomm holds the rights for.
Don Rosenberg, Executive Vice President & General Counsel, Qualcomm Inc said, "Qualcomm is extremely pleased to learn of the European Commission's announcement.
"After an extensive four-year investigation into Qualcomm's practices, and despite the coordinated nature of the complaints made against it, the Commission has terminated its investigation with no finding of a violation.
"Throughout the investigation we have fully cooperated with the Commission, while steadfastly maintaining that our business practices have enhanced consumer welfare.
"Indeed, during the length of the investigation, the wireless industry and 3G in particular has flourished; benefiting consumers with technological advances, greater choices and lower prices.
"Qualcomm's technology and innovations have been at the forefront of these developments and our licensing model, driven by our enormous investments in research and development, has facilitated worldwide competition in our industry."
Article continues below