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Qualcomm fined US$975m in China antitrust probe
Company also agrees to cut royalty rates, hopes case closure to lift business prospects
Add BT as a preferred sourcePublished Tue, Feb 10, 2015 · 09:50 PM
Beijing
QUALCOMM Inc has agreed to pay a fine of US$975 million, the largest in China's corporate history, ending a 14-month government investigation into anti-competitive practices.
The deal - the details of which were first reported by Reuters on Monday - also requires Qualcomm to lower its royalty rates on patents used in China, likely helping local smartphone makers such as Xiaomi Technology and Huawei Technologies.
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