Qualcomm nears $1 billion deal resolving China antitrust dispute

Qualcomm nears $1 billion deal resolving China antitrust dispute | Reuters

Qualcomm Inc is likely to pay China a record fine of around $1 billion, ending a 14-month government investigation into anti-competitive practices, after the U.S. chipmaker and the regulator made significant progress during talks last week.The deal, which may also see Qualcomm lower its royalty rates by around a third on patents used in China, could be announced as soon as Monday, a source said. Discussions in Beijing over one of the most contentious cases under China's 2008 anti-monopoly law have intensified in recent weeks, culminating in meetings between Qualcomm senior executives and National Development and Reform Commission (NDRC) officials on Friday.