A PYMNTS Company

China: Qualcomm undeterred by probe from doing business abroad

 |  September 10, 2014

Qualcomm is working on launching new products and services in China despite a controversial antitrust investigation launched against the company, say reports.

Qualcomm said Wednesday that it is working with 90 partners in China to pinpoint new opportunities for growth and said it hopes to establish new methods of cooperation between domestic semiconductors.

Qualcomm chairman Paul Jacobs revealed the plans at a conference Wednesday sponsored by the World Economic Forum, say reports.

The plans suggest Qualcomm is undeterred from doing business in China despite an investigation into the company by the National Development and Reform Commission. The probe is only one of several cases launched by Chinese authorities against foreign companies in a trend that has lead some overseas businesses to question whether they should continue to focus on the Chinese market so heavily.

But Qualcomm said it remains committed to the Chinese market. “We’ve had a long history in China,” Jacobs said. “Many of the largest players in the industry are now coming from China. That shows working together can create an ecosystem that’s beneficial.”

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.