Qualcomm fined a record $773M in Taiwan over antitrust claims

Qualcomm fined a record $773M in Taiwan over antitrust claims

Qualcomm Inc. was fined a record $773 million by Taiwan's Fair Trade Commission in the latest blow from regulators over the way the U.S. company prices mobile phone chips and patents. The San Diego-based company didn't immediately respond to a request for comment.

The Taiwanese regulator said Qualcomm has monopoly market status over key mobile phone standards and, by not providing products to clients who don't agree with its conditions, the company is violating local laws.

The financial penalty will be the heaviest ever handed out to a single company by the Taiwanese antitrust regulator since its establishment in 1991.

Similarly Qualcomm's $975 million fine from China looks puny set against Qualcomm's $11 billion annual revenues from China. Innovative companies like Icera can be hobbled by Qualcomm-like practices which stop them growing into major companies.

According to the FTC, Qualcomm owned a good number of critical standard patents in Code Division Multiple Access (CDMA), Wideband Code Division Multiple Access (WCDMA) and Long Term Evolution (LTE) segments, serving as the dominant provider of CDMA, WCDMA and LTE baseband chips.

More news: Chickens test positive for West Nile virus in Santa Barbara County

Qualcomm disagrees with the ruling and says that it plans to appeal both the ruling and the fine.

In addition to fines handed down by regulators over the past few years, Qualcomm is now embroiled in a $1 billion lawsuit with Apple Inc. that began as a licensing fee dispute.

The commission said Qualcomm will be able to choose to pay the fine in 60 installments over the next five years.

Qualcomm is also being investigated by other regulators for similar violations globally, including South Korea, China, Japan, the EU.

Related Articles

  • Reasons Why shuts down production

    Reasons Why shuts down production

    " 13 Reasons Why " Season 2 has stopped filming until at least Sunday due to the wildfires ravaging Northern California . The fires have spread over 115,000 acres and have forced tens of thousands of residents to evacuate their homes.

    Express Scripts Holding Company (NASDAQ:ESRX) Shares Dip Under Moving Averages

    Capital Counsel Llc increased Ecolab Inc Com (NYSE:ECL) stake by 57,786 shares to 326,889 valued at $43.40 million in 2017Q2. Finally, Twin Capital Management Inc. grew its position in shares of Express Scripts Holding by 0.8% during the 1st quarter.
    Mexico readies for worst as 4th round of NAFTA talks open

    Mexico readies for worst as 4th round of NAFTA talks open

    Nafta talks, initially scheduled to run from October 11 to October 15 in Washington , may now be extended. Trudeau wouldn't say Wednesday at what point Canada might be prepared to walk away, if ever.
  • Coca-cola Refreshments USA Inc Stock as Institutional Investors Enter

    Coca-cola Refreshments USA Inc Stock as Institutional Investors Enter

    Harbour Investment Limited Liability stated it has 1.68% in The Coca-Cola Co (NYSE:KO). 94,428 shares of the stock were exchanged. SRS Capital Advisors Inc. boosted its position in shares of Coca-Cola Company (The) by 8.6% in the 1st quarter.
    San Juan mayor: 'I don't give a damn' about Trump attacks

    San Juan mayor: 'I don't give a damn' about Trump attacks

    Mayor Cruz said the federal government's response has been slow, inadequate, or downright nonexistent. By official estimates , just under 12 percent of power is restored on the island.
    Decision on NZ government looming

    Decision on NZ government looming

    Meetings will go into the evening - as they have several days of this week - and will likely feature portfolio allocation. He has indicated that allocations of ministerial posts would make up the last section of the talks.
  • President Trump May Issue Executive Order on Obamacare

    President Trump May Issue Executive Order on Obamacare

    Kulhman also added that he believes that fears about association plans undermining the Obamacare marketplace are "overblown". Trump promised on Tuesday morning to sign an executive order giving healthcare to "many".
    S'Eagles Get Quarter Final Target At W'Cup

    S'Eagles Get Quarter Final Target At W'Cup

    Head coach of the Super Eagles, Gernot Rohr, has admitted that he would be banking on Chelsea wingback, Victor Moses, at the 2018 World Cup in Russian Federation .
    Apple CEO Says No AR Glasses Soon

    Apple CEO Says No AR Glasses Soon

    He did not give any serious hints if the company was indeed working on AR smart glasses . But the bloggers will have to wait a little longer.
  • Vaughan's Andrew Wiggins signs $148M extension with Timberwolves

    Vaughan's Andrew Wiggins signs $148M extension with Timberwolves

    Wiggins has yet to sign with a new representative and used his own counsel to look over the deal before agreeing to terms with the Timberwolves on Wednesday.
    'Fast And Furious 9' Delayed To 2020 In Favor Of Spin-Off Film

    'Fast And Furious 9' Delayed To 2020 In Favor Of Spin-Off Film

    Let's have some FUN and to quote, Hobbs the boss, if you don't like it, we're happy to beat that ass like a Cherokee drum. If you smell what The Rock ... ah, you know the rest. "He's the reason we're pushing the release date back now".
    Domino's share price rises as United Kingdom  sales growth holds up

    Domino's share price rises as United Kingdom sales growth holds up

    The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. A £15 million share buyback has been announced in addition to the £20 million of share purchases completed in H1.