Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
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