China fines Qualcomm $975 million for monopolistic business practices
China has fined Qualcomm about US$975 million for engaging in monopolistic business practices, and the chipmaker has agreed to modify some of its business practices in the country as part of the settlement.
Qualcomm said it is disappointed by the results of the investigation, but will not contest the findings and will pay the fine.
China's National Development and Reform Commission had been investigating Qualcomm for engaging in possibly anti-competitive behavior by overcharging device makers in the country. Qualcomm's Snapdragon chips go into many smartphones, and its wireless technology is licensed for use in a majority of 3G, 4G and LTE modems.
