If you purchased Samsung or Apple smartphone from 2015 or later you might be in luck as UK watchdog Which? claims you’re entitled to a share of £480 million.

Plans for a lawsuit against Qualcomm are being debated with the US chipmaker being accused of using its market dominance to inflate charges to manufacturers, which subsequently are passed on to millions of Britons in the form of higher smartphone prices.

Not to burst your bubble but if you think you’re going to be rich or this suit I have bad news for you. With potentially up to 29 million people in the UK eligible for compensation individuals would only receive £17 each.

Anabel Hoult, chief executive of Which?, said: “We believe Qualcomm’s practices are anti-competitive and have so far taken around £480m from UK consumers’ pockets – this needs to stop.

“We are sending a clear warning that if companies like Qualcomm indulge in manipulative practices which harm consumers, Which? is prepared to take action.

“If Qualcomm has abused its market power it must be held to account.

“Without Which? bringing this claim on behalf of millions of affected UK consumers, it would simply not be realistic for people to seek damages from the company on an individual basis – that’s why it’s so important that consumers can come together and claim the redress they are entitled to.”

Christine Trimble, vice president of public affairs for Qualcomm, said “there is no basis” for the lawsuit.

“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 United States” she added.