Qualcomm Pays $1 Billion to Settle Chinese Antitrust Dispute

By Noel Randewich and Matthew Miller

SAN FRANCISCO and BEIJING — Qualcomm (QCOM) said Monday it agreed to pay China a fine of $975 million, ending a 14-month government investigation into anti-competitive practices.

The deal also sees chipmaker Qualcomm lower its royalty rates on patents used in China, the company said in a statement.

Discussions in Beijing over one of the most contentious cases under China’s 2008 anti-monopoly law had intensified in recent weeks, culminating in meetings Friday between Qualcomm senior executives and National Development and Reform Commission officials.

Qualcomm is just one of several overseas companies, including Microsoft (MSFT), that have come under investigation in China for allegedly anti-competitive practices.

[source : dailyfinance.com]