Latest Global Business News

BD Qualcomm hit with record fine by antitrust regulator

 
Korea's Fair Trade Commission has dished out its largest fine to-date... to U.S. chipmaker Qualcomm for what it called.... the company's "monopolistic" business practices.
 
The fine amounts to more than eight-hundred-50 million U.S. dollars.
 
The commission says Qualcomm abused its dominant position.... as the holder of standard-essential patents... by forcing mobile phone makers - like Samsung and LG - to share *their patent rights for free... and driving other chipset makers out of business... on unfair contracts.
 
The FTC also ordered Qualcomm to revise its business model.
 
Qualcomm has vowed to challenge the decision in court,... calling it "inconsistent with the facts and the law".
 
The San Diego-based firm... is also being probed in the United States and Europe,... and had reached a settlement with Chinese regulators... last year.
 
qualcomm fined record amount in korea
 

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