Latest in Gear

Image credit:

Qualcomm slapped with $854 million anti-trust fine in Korea

The Korean anti-trust commission fined the chipmaker for unfair patent licensing practices.
Mariella Moon, @mariella_moon
December 28, 2016
Share
Tweet
Share

Sponsored Links

David Becker/Getty Images

Qualcomm might have to pay a hefty anti-trust fine in South Korea. The Korea Fair Trade Commission (KFTC) has slapped Snapdragon's creator with a 1.03 trillion won ($854 million) fine for unfair patent licensing practices. According to Reuters, the KFTC came to its decision after determining that the company took advantage of its dominant market position to force phonemakers to pay royalties "for an unnecessarily broad set of patents." Further, it gave rival chipmakers limited access to its patents, which hindered fair competition.

Apparently, 30 percent of the $25 billion revenue the chipmaker made last year came from patent-licensing deals. The KFTC believes this ruling will help "correct a business model that allowed Qualcomm to maintain and extend its dominance." Qualcomm "strongly disagrees" with the anti-trust regulator's decision (of course_ and plans to appeal to the Seoul High Court.

This is definitely not the first time Qualcomm has faced such a huge fine for its patent licensing practices. Back in 2015, the company had to pay $975 million in China after regulators in the country conducted a similar anti-monopoly investigation. The company is also under investigation in Taiwan and the United States for the same thing.

In this article: antitrust, business, gear, korea, qualcomm
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

The 2020 Engadget Holiday Gift Guide

The 2020 Engadget Holiday Gift Guide

View
Vava’s 4K ultra short-throw projector is $840 off at Amazon

Vava’s 4K ultra short-throw projector is $840 off at Amazon

View
Scientists find neutrinos from star fusion for the first time

Scientists find neutrinos from star fusion for the first time

View
Engadget readers get $200 off Roomba's i7+ vacuum at Wellbots

Engadget readers get $200 off Roomba's i7+ vacuum at Wellbots

View
Google shows off 'Cyberpunk 2077' running on Stadia at 4K

Google shows off 'Cyberpunk 2077' running on Stadia at 4K

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr