Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Qualcomm fined $854 million on charges of anti-trust violations
  • Business

    Qualcomm fined $854 million on charges of anti-trust violations

    Sneha Johny
    Written by
    Sneha Johny
    Mail
    Last updated on Dec 28, 2016, 09:10 pm
    Qualcomm fined $854 million on charges of anti-trust violations
  • American chip manufacturer Qualcomm was fined a record $854 million (1.03 trillion South Korean Won) by South Korean economic regulator, Korea Fair Trade Commission (KFTC).

    The penalty comes under allegations of Qualcomm resorting to unfair business and trade practices in its patent-licensing business.

    The fine is reportedly the highest penalty imposed on an American company, reports said.

  • In this article
    Qualcomm Qualcomm's patent-licensing business Korea Fair Trade Commission (KFTC) Qualcomm fined $854 million on charges of anti-trust violations Qualcomm responds to KFTC's penalty What prompted the penalty? Penalty to see changes in Qualcomm's business model?
  • About

    Qualcomm

    Qualcomm
  • Qualcomm is an American multinational chip-maker that designs and manufactures products for the telecom market.

    The company garners most of its revenues from manufacturing chips for handsets and electronic devices.

    Qualcomm also generates its profits from patent licensing.

    Headquartered in San Diego, California, it was founded by seven individuals in 1985.

  • Information

    Qualcomm's patent-licensing business

  • The San Diego-based company earned over $25 billion in revenues last year, of which nearly 30% is contributed by its patent-licensing business. Qualcomm imposes royalties on handset manufacturers, which is usually a percentage of the handset's price.

  • About

    Korea Fair Trade Commission (KFTC)

    Korea Fair Trade Commission (KFTC)
  • The Korean Free Trade Commission (KFTC) is the regulatory authority for markets and economic competition in South Korea.

    The commission was established in the early 1980s as part of the country's plan to regulate monopoly and establish fair trade practices within the nation.

    KFTC has been involved in resolving unfair business practices of major corporate giants such as Microsoft, Universal Music and Sony Entertainment.

  • 28 Dec 2016

    Qualcomm fined $854 million on charges of anti-trust violations

    Qualcomm fined $854 million on charges of anti-trust violations
  • American chip manufacturer Qualcomm was fined a record $854 million (1.03 trillion South Korean Won) by South Korean economic regulator, Korea Fair Trade Commission (KFTC).

    The penalty comes under allegations of Qualcomm resorting to unfair business and trade practices in its patent-licensing business.

    The fine is reportedly the highest penalty imposed on an American company, reports said.

  • Quote

    Qualcomm responds to KFTC's penalty

  • "The KFTC's decision will not become effective until the written decision and order is issued. Qualcomm strongly disagrees with the KFTC's announced decision. The decision lacks a coherent theory of competition law violations and any evidence of harm to competition," said Qualcomm in a statement.

  • Antitrust violations

    What prompted the penalty?

    What prompted the penalty?
  • The South Korean regulator stated that Qualcomm had flouted antitrust laws by hindering the access of other competitors to its patents.

    Reportedly, due to Qualcomm's "unnecessarily broad patent licensing requirements", the phone makers had to pay more royalties than required for its modem chips.

    This led to conflicting and unfair trade agreements with Qualcomm, according to reports.

  • Quote

    Penalty to see changes in Qualcomm's business model?

  • "The worry is not the fine, Qualcomm has deep pockets. The worry is about potential changes to the business model, if any," said Stacy Rasgon, Analyst, Sanford C. Bernstein.

  • South Korea
  • Qualcomm
  • San Diego
  • Universal Music
  • Sony Entertainment
  •  
Latest News
  • Coronavirus: India's tally reaches 11.13 million with 12K+ new cases
    Coronavirus: India's tally reaches 11.13 million with 12K+ new cases
    India
  • Ahead of launch, Meizu 18 series' camera system teased
    Ahead of launch, Meizu 18 series' camera system teased
    Science
  • Employee sues Amazon for racial, gender discrimination in corporate hiring
    Employee sues Amazon for racial, gender discrimination in corporate hiring
    Business
  • Realme C21, with 5,000mAh battery, to debut on March 5
    Realme C21, with 5,000mAh battery, to debut on March 5
    Science
  • Alec Baldwin, wife Hilaria welcome their sixth child
    Alec Baldwin, wife Hilaria welcome their sixth child
    Entertainment
Trending Topics
Bharti Airtel Mukesh Ambani Twitter WhatsApp Reliance Jio OPPO Isha Ambani
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Twitter Indian Premier League Samsung Virat Kohli
Rohit Sharma Cricket News YouTube Hollywood News WhatsApp Bollywood News Real Madrid ISRO Yoga Honda
Batman Football News BMW Novak Djokovic Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Prince Philip
Toyota Fashion Tips Mercedes La Liga Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Bobby Deol
Marvel Comics Avengers Neha Kakkar Premier League
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021