Qualcomm To Pay $975m Fine To Settle Antitrust Case In China

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Qualcomm said it will pay a fine of $975 million and modify its business practices as part of an agreement to settle a long-running antitrust dispute in China.

The mobile technology giant said it has reached a resolution with China’s National Development and Reform Commission (NDRC) regarding the commission’s investigation of Qualcomm under China’s anti-monopoly law (AML).

Reuters noted that the agreement ends a 14-month government investigation into anti-competitive practices and that the fine is the largest in China’s corporate history.

Although it expressed disappointment with the results of the investigation, Qualcomm said in a statement that it will not contest the NDRC’s finding that Qualcomm has violated the AML and has agreed to implement a rectification plan that modifies certain of its business practices in China. Original post at ET Telecom

Wahengbam Rorrkychand

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