Ron Burgundy Posted February 10, 2015 Share Posted February 10, 2015 By Noel Randewich and Matthew Miller SAN FRANCISCO/BEIJING (Reuters) - Qualcomm Inc has agreed to pay China a fine of $975 million, the largest in the country's corporate history, ending a 14-month government investigation into anti-competitive practices. The deal also requires Qualcomm to lower its royalty rates on patents used in China, likely helping Chinese smartphone makers like Xiaomi Technology Co Ltd [XTC.UL] and Huawei Technologies Co Ltd [HWT.UL]. It removes a major source of concern among Qualcomm investors, sending shares of the U.S. chipmaker up 1.6 percent to $68.18 in after-hours trading. China's expanding high-speed 4G network is driving demand for smartphones with leading-edge technology, but Qualcomm's opportunities have been clouded by the antitrust investigation, which has also contributed to troubles collecting royalty payments from device makers. View the full article Quote Link to comment Share on other sites More sharing options...
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