Qualcomm looking to end anti-trust probe
22 August 2014 |
Qualcomm is said to be seeking an end to investigations by Chinese pricing regulators over alleged monopoly practices.
The US-based chipmaker said today that its local Chinese subsidiary will improve and correct pricing issues according to requirements from the National Development and Reform Commission (NDRC).
The NDRC met with a number of executives from Qualcomm on Thursday, including company president Derek Aberle.
“Qualcomm executives discussed with NDRC officials several topics in an effort to reach a comprehensive resolution,” Qualcomm said in a statement.
“We are continuing to cooperate with NDRC and cannot comment further.”
Regulators said in February that Qualcomm was overcharging and abusing its market position, which could lead to fines in excess of $1 billion, and later in July, the company was accused of having “a Chinese monopoly”.
Qualcomm is one of the world’s largest mobile chipmakers and is just one of at least 30 foreign firms to have come under investigation – including Microsoft and Volkswagen AG – as China looks to implement a 2008 anti-monopoly law.