Qualcomm will pay 975 million USD to Chinese anti-trust authorities in a settlement that concludes months of investigation.
Qualcomm will also have to change its practices regarding patents for mobile phone chips in China. The San Diego based company has long profited from stringent patenting and China accounted for around half of that revenue in the past fiscal year.
The investigation which was launched in November 2013 found that Qualcomm’s licensing practices violate China’s anti-monopoly laws. Further details haven’t been widely disclosed but Qualcomm has agreed not to contest the verdict.
Qualcomm’s shares have risen over three percent since reports on Monday that a settlement was imminent began to surface.
This isn’t the first time Qualcomm has found itself in hot water over anti-trust allegations. In 2009, Qualcomm was fined 20 million USD by South Korea for their patenting practices and faces anti-trust complaints both in Europe and the US.
Source: Tencent, Wall St Journal
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Keywords: Qualcomm to Pay 925 Million USD in Anti-trust Settlement
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Quallcom must be earning heroic amounts of money in China to agree to pay close to one billion US to Chinese "antitrust" regulators. Probably a spit in the bucket. (A really BIG fat red envelope comes to mind at this time of year.) Anti-trust? Anti-monopoly? No one holds a monopoly in China EXCEPT the Chinese. Period. Full stop.
Feb 11, 2015 15:48 Report Abuse