Chipmaker giant Qualcomm said this week that it has agreed to pay a record $975 million fine to Chinese regulators to resolve an antitrust investigation that began more than a year ago. It is the largest corporate fine in the country’s history.
In a statement, dated Feb. 9, Qualcomm said that it “has reached a resolution with China’s National Development and Reform Commission regarding the NDRC’s investigation of Qualcomm under China’s Anti-Monopoly Law. The NDRC has issued an administrative sanction decision finding that Qualcomm has violated the AML.”
As part of the settlement agreement, Qualcomm said it also has agreed to modify “certain of its business practices in China, and that fully satisfies the requirements of the NDRC’s order.” Among those modifications, Qualcomm said it has agreed to offer licenses to current 3G and 4G Chinese patents separately from other patents.
Qualcomm said it will not pursue further legal proceedings contesting the NDRC’s findings. “Although Qualcomm is disappointed with the results of the investigation, it is pleased that the NDRC has reviewed and approved the company’s rectification plan.”