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Chinese Government announce settlement for Qualcomm anti-trust case

Qualcomm could be up for large fines thanks to some NDRC investigations
By: Chris Smith | Business, Financial & Legal News | Posted: Dec 27, 2014 11:02 am

The Chinese Government has recently announced that they will be reaching a settlement on the anti-trust case against large-scale manufacturer Qualcomm as soon as this Friday.

 

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Chinese regulators announced previously that they suspected this company of abusing and overcharging its market in wireless communication standards. Due to this, the Government launched a probe of this US manufacturer 13 months ago, investigating their claims. The National Development and Reform Commission (NDRC) claims that this investigation is to be settled lawfully before the close of the current working week.

 

The NDRC claimed that Qualcomm admitted will to fixing their wireless pricing structure in August, preceding a report released in December claiming that they had evidence of "substantial" price fixing.

 

The total maximum costs for Qualcomm is said to exceed $1 billion if they're found guilty and it marks them as one of 30 non-Chinese firms that are being investigated by the NRDC under the 2008 Chinese anti-monopoly law.

NEWS SOURCES:Hothardware.com, Reuters.com

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