South Korea slaps Qualcomm with $853M fine
A South Korean government agency slapped Qualcomm with a $853 million fine, alleging the company indulged in business practices that violated the country's competition laws.
The fine was imposed by the Korea Fair Trade Commission, an antitrust regulator that has been investigating Qualcomm's licensing and business practices for many years.
The commission said that Qualcomm abused its dominant market position and broke the country's competition laws by unfairly negotiating licenses with device makers and chip customers.
Qualcomm has cornered the South Korea mobile market, with its Snapdragon chips and modems going into devices made by companies like Samsung and LG. Qualcomm intends to appeal the fine, saying the commission's findings that the company's business practices harmed competition were flawed.
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