Qualcomm (QCOM) announced late Monday that it’s reached a resolution with China’s government that requires it to pay a $975 million fine and meet certain licensing requirements to settle a 14-month investigation into its business practices. The San Diego-based chipmaker said in a press release that it reached the agreement with China’s National Development and Reform Commission (NDRC), and that it would not contest the deal in court. In the
Qualcomm (QCOM) faces a $1 billion fine and possible royalty reductions to resolve a 14-month investigation by Chinese anti-monopoly authorities, according to a Reuters report, but that outcome might be better than many investors expected. Qualcomm is likely to pay China a record fine of around $1 billion, which would end a 14-month investigation by China’s National Development and Reform Commission (NDRC) into alleged anti-competitive practices,
Qualcomm (QCOM) stock was up Friday following news reports that the San Diego-based chipmaker is nearing a settlement with Chinese regulators following a 13-month antitrust probe. China’s National Development and Reform Commission (NDRC) says that the antitrust investigation will soon be settled “according to the law,” Reuters reported on Friday, citing remarks from Xu Kunlin, director general of the NDRC’s anti-monopoly bureau. In a separate