One of the largest manufacturers of mobile chips, Qualcomm, has now been labeled a monopoly in China, according to reports.
State-run media said Thursday that US-based Qualcomm has been deemed a monopoly by China’s National Development and Reform Commission; the development emerged as Qualcomm’s chief executive met with authorities in the nation as China continues to investigation the company.
Qualcomm is being probed by the NDRC for suspicion of abusing its market dominance and other anticompetitive behavior. Its Chinese operations announced in February that it was under investigation, and reports say fines against the company could top $1 billion.
Despite the unconfirmed reports that the NDRC has declared Qualcomm a monopoly, media did not say whether the NDRC has found that the company has abused that monopoly position. Experts believe, however, that the competition authority will announce a decision on the case soon.
Qualcomm is a leading smartphone chipmaker, but reports say it earns most of its profits from licensing its cellphone patents.
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
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 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