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China: Qualcomm optimism undeterred by fine threat

 |  November 20, 2014

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

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