Qualcomm slapped with $975m fine by Chinese regulators
Chipmaker found to have abused its position as market leader
Qualcomm has accepted a mammoth $975 million fine for violating China's Anti-Monopoly Law (AML).
China's National Development and Reform Commission (NDRC) found the US chipmaker was using its dominant market position to charge customers "excessively high" licensing fees.
"Qualcomm refused to provide [a] patent list to its customers in China and out-of-date patents were included in the licensing package and charged," the NDRC said in a statement.
The chipmaker said it was disappointed with the results of the investigation, but will not appeal the fine.
Qualcomm also confirmed it has submitted plans to amend various business practices in China, which the NDRC has approved.
"We are pleased that the resolution has removed the uncertainty surrounding our business in China, and we will now focus our full attention and resources on supporting our customers and partners in China and pursuing the many opportunities ahead," said Steve Mollenkopf, CEO of Qualcomm in a statement.
Qualcomm's Snapdragon range of chipsets are found in the majority of high-profile smartphones and tablets around the globe.
China is a critical market for Qualcomm, with the region accounting for approximately 50 per cent of its $26.5 billion revenue during the last fiscal year.
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