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153

Corning settles EU antitrust probe by agreeing to open smartphone glass market (techcrunch.com)

submitted 3 months ago by drmoose@lemmy.world to c/technology@lemmy.world

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Corning, the US-based manufacturer of Gorilla Glass, has successfully avoided potential European Union antitrust fines of up to $1.25 billion by agreeing to a set of legally binding commitments that address concerns over its exclusive supply agreements for specialty glass used in smartphones and other handheld devices.

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[–] themurphy@lemmy.ml 53 points 3 months ago (1 children)

EU is on fire. Only consumer protector left on a global scale.

[–] drmoose@lemmy.world 35 points 3 months ago (1 children)

The fines seem to be based on global revenue too so that 1.2B figure comes from 10% of global revenue which is much harder to justify as "cost of doing business".

[–] themurphy@lemmy.ml 4 points 3 months ago

Very true. And the fine will be raised for next time, so you really dont want strike one.