Qualcomm was fined $975 million by Chinese antitrust regulators, who set new terms for smartphone makers to license the chipmaker’s technology, writes Ian King for Bloomberg. The move ends an inquiry that threatened the US company’s growth in the biggest mobile market.
China’s National Development and Reform Commission issued a decision that Qualcomm violated its anti-monopoly law. Qualcomm won’t challenge the decision, which includes the fine and imposes conditions on royalties charged on phones sold in China.
The investigation has lasted more than a year and affected Qualcomm’s ability to collect licensing revenue in China.