Qualcomm says China launches antitrust probe

Nov 25, 2013
Dr. Paul E. Jacobs, chairman and CEO of Qualcomm, chip manufacturer for HP tablet and mobile phones, speaks during the WebOS event at Fort Mason's Herbst Pavilion on February 9, 2011 in San Francisco, California

US mobile chipmaker Qualcomm said Monday it has been notified it is the subject of an antitrust investigation by Chinese authorities.

The company, a dominant maker of chips for smartphones, said in a statement that the "substance of the investigation" under the Chinese Anti-Monopoly Law is "confidential."

"The company is not aware of any charge by the NDRC (China's National Development and Reform Commission) that Qualcomm has violated the AML (Anti-Monopoly Law)," a Qualcomm statement said.

"We will continue to cooperate with the NDRC as it conducts its confidential investigation.

Qualcomm shares fell 2.5 percent to $71.10 after the news.

The US firm brought in over $1 billion in revenues from China in the past quarter.

Chief executive Paul Jacobs told the Wall Street Journal last week the company had been facing increasing pressure due to revelations of surveillance programs conducted by the US National Security Agency.

Explore further: Qualcomm may repurchase up to $5 billion shares

add to favorites email to friend print save as pdf

Related Stories

Qualcomm ups dividend, approves up to $4B buyback

Mar 06, 2012

(AP) -- Mobile phone chip-maker Qualcomm Inc. said Tuesday that its board approved the increase of its quarterly dividend by 16 percent to 25 cents and up to $4 billion in stock buybacks.

EU drops Qualcomm antitrust probe

Nov 24, 2009

(AP) -- European Union antitrust regulators on Tuesday dropped a monopoly abuse probe into wireless chip maker Qualcomm Inc. after mobile phone companies withdrew complaints about high royalty fees.

Recommended for you

Chinese smartphone makers win as market swells

6 hours ago

Chinese smartphone makers racked up big gains as the global market for Internet-linked handsets grew to record levels in the second quarter, International Data Corp said Tuesday.

Full appeals court upholds labels on meat packages

6 hours ago

(AP)—A federal appeals court has upheld new government rules that require labels on packaged steaks, ribs and other cuts of meat to say where the animals were born, raised and slaughtered.

BlackBerry buys German anti-eavesdropping firm

7 hours ago

Canadian smartphone maker BlackBerry announced Tuesday the purchase of German voice and data encryption and anti-eavesdropping firm Secusmart, whose customers include NATO and German Chancellor Angela Merkel ...

India's Flipkart raises $1 bn to tackle Amazon

8 hours ago

India's top e-commerce company Flipkart said Tuesday it had raised $1 billion (60 billion rupees) in funds as it battles US giant Amazon for supremacy in the hyper-competitive local market.

User comments : 2

Adjust slider to filter visible comments by rank

Display comments: newest first

Poj
not rated yet Nov 25, 2013
Seems like China has been learning from us.
holoman
1 / 5 (1) Nov 25, 2013
China's pissed because they can't clone the Qualcomm technology.
Simca
Nov 25, 2013
This comment has been removed by a moderator.