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China: Qualcomm faces $1B fine, cause still unknown

By  |  January 29, 2014

The world’s largest smartphone chip maker, Qualcomm, is reportedly facing up to $1 billion in fines from China’s National Development and Reform Commission, though the cause of authorities’ probe into the US firm remains unknown.

Reports say such a massive fine signals yet again that China’s competition policy is stepping up its stance, especially against foreign firms, to preserve domestic competition. The nation is reportedly looking to lower costs ahead of its 4G wireless rollout and could therefore be targeting telcos in antitrust investigations.

China remains the globe’s largest smartphone market.

Reports say a $1 billion fine would depend on negotiations between Qualcomm and NDRC officials.

Full Content: Reuters

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