Qualcomm Fined $853 Million by South Korean Antitrust Agency
- Fair Trade Commission describes ‘monopolistic’ practices
- Qualcomm will appeal the ruling in Seoul’s high court
South Korea Fines Qualcomm $853M for Antitrust Violation
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South Korea’s antitrust regulator slapped a record 1.03 trillion won ($853 million) fine on Qualcomm Inc. for violating antitrust laws, the latest in a string of government actions that threaten the U.S. chipmaker’s most profitable business.
The South Korean Fair Trade Commission said Wednesday that the company licensed its key patents only to mobile-phone makers and didn’t properly negotiate the terms of its licenses. The agency also said Qualcomm coerced its customers into signing patent license contracts when selling its chips used in mobile phones in the country, and it didn’t fairly pay for the use of patents held by other phone makers.