The Traderszone Network

Published in TZ Latest News 9 February, 2015 by The TZ Newswire Staff

Qualcomm to pay $975 million to resolve China antitrust dispute

SAN FRANCISCO/BEIJING (Reuters) – Qualcomm Inc has agreed to pay a fine of $975 million, the largest in China’s corporate history, ending a 14-month government investigation into anti-competitive practices. The deal – the details of which were first reported by Reuters on Monday – also requires Qualcomm to lower its royalty rates on patents used in China, likely helping local smartphone makers such as Xiaomi Technology Co Ltd [XTC.UL] and Huawei Technologies Co Ltd [HWT.UL].

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