Chinese regulators said this week that it’s in settlement talks with chipmaker giant Qualcomm, which is likely to face a record fine of more than $1 billion to resolve an antitrust investigation that began more than a year ago.
The National Development and Reform Commission (NDRC), China’s anti-monopoly regulator, launched an investigation into Qualcomm last February over allegations that the company engaged in anti-competitive practices.
Xu Kunlin, head of the NDRC, said Qualcomm will be fined several times the total amount the NDRC fined last year, the state-run Securities Times reported. The settlement discussions were first reported by Reuters.
Chinese regulators are expected to announce the settlement over the next few days.