Chip manufacturer Qualcomm has been fined $975 million by anti-trust regulators in China. It was found to have violated monopoly laws in the country.
The company says it will honor the decision by China’s National Development and Reform Commission (NDRC). As well as the fine, it will abide by new licensing conditions for devices sold in the country.
It will now offer licenses for its 3G and 4G patents in China separately to allow customers to implement its technologies more cost effectively.
In addition, Qualcomm will charge a licensing rate of 5 percent for 3G devices and 3.5 percent for 4G devices in China, similar to its practices in other regions. However, the base value of these devices will be assessed at 65 percent of their selling price.
The agreement with the NDRC will allow Qualcomm to continue current deals and pursue future contracts in the country.
➤ Qualcomm and China’s National Development and Reform Commission Reach Resolution [Qualcomm via Bloomberg]
Get the TNW newsletter
Get the most important tech news in your inbox each week.