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S Korean Watchdog Fines US Chip Producer $854Mln for 'Unfair' Business

Sputnik International

South Korean Fair Trade Commission on Wednesday made a decision to fine US chip producer Qualcomm $854 million for "unfair" business and abuse of its market... 28.12.2016, Sputnik International

2016-12-28T09:37+0000

2022-08-06T11:27+0000

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S Korean Watchdog Fines US Chip Producer $854Mln for 'Unfair' Business

09:37 GMT 28.12.2016 (Updated: 11:27 GMT 06.08.2022)

South Korean Fair Trade Commission on Wednesday made a decision to fine US chip producer Qualcomm $854 million for "unfair" business and abuse of its market positions, media reported.

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Asia

S Korea's Acting President Calls for Prompt Deployment of US THAAD Systems

21 December 2016, 11:15 GMT

MOSCOW (Sputnik) – The watchdog decided to fine the US company for its actions aimed at forcing "excessive" licensing fees on the South Korean producers of smartphones, the Financial Times newspaper reported.

The fine was aimed at revival of a "fair competition in the telecoms sector," the newspaper added, citing the trade commission's Director Shin Young-sun.

The multimillion sum of the fine could increase, as the company is facing numerous antitrust cases over its licensing practices for the technologies at the moment, according to the media outlet.