Qualcomm is facing nearly $1 billion in anti-trust fines in China

Not even two months into the new year and things are already looking terrible for Qualcomm. Not only could the company be losing Samsung as a customer for its new mobile chip, Qualcomm now has to fork over nearly a billion dollars in anti-trust fines to Chinese regulators. 

It looks like Qualcomm has more troubles than just possibly losing Samsung as a customer: the firm is paying out nearly $975 million (over 6 billion Chinese yuan) in fines to the Chinese National Development and Reform Commission as a result of the NRDC’s anti-monopoly investigation. Furthermore, Qualcomm has agreed to not contest China’s legal decisions and has to give current OEM customers the chance to renegotiate their contracts in light of new, mandated price adjustments. Oh, as well as a few more concessions…

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Written by Scarlett Madison

Scarlett Madison is a mom and a friend. She blogs for a living at Social News Watch but really prefers to read more than write. Find her on Twitter, Facebook, and Pinterest.

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