Qualcomm has been hit with a almost $774 million fine by Taiwan's Fair Trade Commission, which said today that the chip maker abused its monopoly over smartphone modems to squeeze higher licensing fees and better terms out of its customers. This is one other major defeat for the chipmaker that's now embroiled in a complicated legal battle against Apple and other tech firms.
Qualcomm disagrees with the ruling and says that it plans to appeal both the ruling and the fine. Qualcomm's bottom line and the stock could also take serious hits.
The company has been violating antitrust rules for at least seven years, collecting licensing fees from local companies during that time, the Taiwanese regulator said in a statement on its website Wednesday.
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According to multiple reports, the Taiwanese FTC accused Qualcomm of abusing a monopoly it holds over mobile phone standards for wireless data connectivity and refused to license necessary patents to clients who don't agree to the company's conditions.
In addition to the fine, Taiwan's FTC has requested Qualcomm redacts previously signed deals which forced competitors to provide price, model name, customer names, shipment, plus other information to the company.
What's worst for Qualcomm is that the regulator confirms merely what other similar bodies found.
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Qualcomm was fined $23.4 billion by TFTC-approximately $773 million in USA money-following an investigation that began in February 2015.
Qualcomm has been fined by regulators in several Asian countries and the European Union, and is embroiled in a legal dispute over royalties with Apple.
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