Qualcomm To Pay $975M China Antitrust Fine
The San Diego-based chipmaker will also charge lower patent royalties in China as the result of a 14-month antimonopoly investigation.
February 09, 2015 at 11:58 PM
3 minute read
Chipmaker Qualcomm Inc. said on Monday that it has agreed to pay a $975 million fine to the Chinese government after a 14-month antitrust investigation.
The San Diego-based company said in a statement that China's National Development and Reform Commission has issued an Administrative Sanction Decision finding that Qualcomm violated China's Antimonopoly Law by over-charging Chinese customers for patent royalties.
Qualcomm said it is disappointed with the results but will not contest the NDRC's decision. “We are pleased that the resolution has removed the uncertainty surrounding our business in China, and we will now focus our full attention and resources on supporting our customers and partners in China and pursuing the many opportunities ahead,” said Steve Mollenkopf, chief executive officer of Qualcomm, in the statement.
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