South Korea fines Qualcomm $854 million for violating competition laws
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Qualcomm (QCOM) Fined $865M by South Korea for Antitrust Violations; Co. Strongly Disagrees with Ruling
December 28, 2016 5:53 AM ESTThe Korea Fair Trade Commission (KFTC) today announced that it has reached a decision in its investigation of Qualcomm Incorporated (Nasdaq: QCOM), finding that certain of the Company's business practices are in violation of Korean competition law. The KFTC announced that it intends to issue a corrective order relating to the specific practices at issue and impose an administrative fine of approximately 1.03 trillion South Korean Won (approximately $865 million at current exchange rates). This is an unprecedented and insupportable decision relating to licensing practices that have been in existence in Korea and worldwide for decades and that the KFTC reviewed... More
