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China’s price regulator probes Qualcomm
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Qualcomm Inc yesterday said China’s price regulator has started an investigation of the mobile chipmaker under the Chinese Anti-Monopoly Law.
Qualcomm said it was not aware of any violation but would cooperate with the investigation by the National Development and Reform Commission.
The NDRC did not say why Qualcomm was being investigated. But Evercore Partners analyst Mark McKechnie said the investigation seemed to be part of a wider probe into the industry and not company specific.
Qualcomm, the world’s biggest maker of cellphone chips, gets half of its revenue from China and has sought more growth in the country as telecom operators such as China Mobile upgrade their high-speed network services.
Its revenue from China rose 54 percent to US$12.3 billion this year, 49 percent of total revenue.
China will crack down on excessively high prices in six industries as it looks to further protect consumers, Shanghai Securities News said yesterday. The industries are aviation, consumer goods, auto, telecommunications, pharmaceutical and home appliances, the newspaper said, citing Lu Yanchun, an NDRC official.
Pacific Crest Securities analyst James Faucette said: “It is a little bit inauspicious because it corresponds with seemingly some confirmation that the Chinese government will be granting new spectrum licenses to allow for the launching of LTE (4G networks) in China in the middle of December.”
McKechnie said the Chinese government is probably trying to push for local technology suppliers.
In the last few months, organizations affiliated to the government spent nearly US$3 billion to buy China-based mobile chipmakers Spreadtrum Communications Inc and RDA Microelectronics Inc.
With growth in the smartphone industry shifting away from wealthy markets toward China and other emerging economies, Qualcomm has focused on supplying chips for cheaper phones, in competition with Chinese rivals such as Spreadtrum.
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