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© Niroworld Dreamstime.com Components | October 12, 2017

Qualcomm hit by fine in Taiwan

Qualcomm was recently hit with a USD 773 million fine from the Taiwan Fair Trade Commission (TFTC) saying that the company's business practices are in violation of Taiwanese competition law.
Qualcomm has released a statement disagreeing with the decision saying it intends to seek to stay any required behavioral measures and appeal the decision to the Taiwanese courts after receiving the TFTC’s formal decision, which is expected in the next several weeks.

The fine bears no rational relationship to the amount of Qualcomm’s revenues or activities in Taiwan, and Qualcomm will appeal the amount of the fine and the method used to calculate it, Qualcomm says in a press release.

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October 16 2017 2:56 PM V8.8.6-2