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Taiwan Hits Qualcomm With $774 Million Fine
12 October 2017, 06:08 | Cesar Cruz
Qualcomm appealing TFTC's decision in $773 million USD fine
A San Diego-based company hit with a multi-million dollar fine by the Taiwan Fair Trade Commission (TFTC) following an investigation says it will be appealing the decision. China fined Qualcomm $975 million in 2015, while South Korea levied a fine of about $865 million past year.
Taiwan's Fair Trade Commission (FTC) affirms that Qualcomm holds a monopoly over key mobile phone standards, and in not providing its products to clients who disagree with its conditions, the company breaches local laws.
It'll take weeks before the court issues a final word on the matter, and according to Qualcomm, the fine that it's charged with has "no rational relationship to the amount of Qualcomm's revenues or activities in Taiwan".
The refusal by Qualcomm, the FTC said, failed to meet the requirement of European Telecommunications Standards Institute, which asked its members to license their technologies to its other market players.
The company has been violating antitrust rules for at least seven years, collecting licensing fees from local companies during that time, the Taiwanese regulator said in a statement on its website Wednesday.
The FTC said that in 15 days after Qualcomm receives a formal legal document on the punishment from the commission, the firm should pay the fine if it does not appeal the decision in a court here. In late December 2016, the regulator announced a $854 million fine against Qualcomm, the largest ever in the country/ In March 2017, South Korea also discovered that Qualcomm stopped Samsung from selling their chips to other handset makers.
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COLA HBC (CCHGY) Downgraded by Jefferies Group LLC to Hold
Movements above 70 are interpreted as indicating overbought conditions; conversely moves underneath 30 notify oversold conditions. It is positive, as 49 investors sold KO shares while 618 reduced holdings. 123 funds opened positions while 504 raised stakes.