As chip-making giant Qualcomm faces potential record antitrust fines in China, the company offered an update on its state of operations in the nation and remained optimistic about the future.
Qualcomm partook in the World Internet Conference Thursday as Premier Li Keqiang commented that the chipmaker’s opportunities in China far outweigh its challenges. The company said it is continuing to work with the National Development and Reform Commission in its investigation and stressed the need for a “level playing field” in the technology industry, according to reports.
The NDRC is probing Qualcomm for allegations of price-fixing and abusing its dominant position in the industry. Earlier reports suggested fines could reach $1 billion against the US conglomerate.
Despite Li’s optimism, Qualcomm Executive Chairman Paul Jacobs said the company is in the midst of “difficult discussions” with the NDRC to resolve the matter.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI