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Qualcomm receives record fine
Source: Agencies |
July 24, 2009, Friday
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SOUTH Korea's fair trade regulator slapped United States chip maker Qualcomm Inc with a record fine yesterday over abuse of its market dominance.
The Korea Fair Trade Commission said in a statement that it fined the San Diego, California-based company 260 billion won (US$208 million), the largest such levy in South Korea.
The commission, which had been investigating Qualcomm since 2006, said the company abused its market dominance in CDMA mobile phone chips by charging higher royalties for companies that used rival chipsets. It also said Qualcomm favored customers who used its products by offering rebates.
The commission also ordered Qualcomm to correct the practices.
A Qualcomm spokesman in Seoul reached by telephone referred comment to the company's San Diego headquarters.
South Korea's Yonhap news agency quoted the president of Qualcomm's South Korean operations as calling the decision "very regrettable."
Qualcomm developed CDMA, or code division multiple access, a rival standard to GSM, or global system for mobile.
The Korea Fair Trade Commission said in a statement that it fined the San Diego, California-based company 260 billion won (US$208 million), the largest such levy in South Korea.
The commission, which had been investigating Qualcomm since 2006, said the company abused its market dominance in CDMA mobile phone chips by charging higher royalties for companies that used rival chipsets. It also said Qualcomm favored customers who used its products by offering rebates.
The commission also ordered Qualcomm to correct the practices.
A Qualcomm spokesman in Seoul reached by telephone referred comment to the company's San Diego headquarters.
South Korea's Yonhap news agency quoted the president of Qualcomm's South Korean operations as calling the decision "very regrettable."
Qualcomm developed CDMA, or code division multiple access, a rival standard to GSM, or global system for mobile.
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