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Li talks up Qualcomm opportunities
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QUALCOMM Inc’s opportunities in China will be far greater than its challenges, Premier Li Keqiang said yesterday as the US mobile chipmaker prepares to face a possible record fine for anti-trust violations in the country.
Speaking at the World Internet Conference in Wuzhen, Zhejiang Province, yesterday with Qualcomm Executive Chairman Paul Jacobs, Li said he believed Qualcomm would resolve the issue with the Chinese authorities.
He emphasized, however, the necessity for a “level playing field” for tech companies in China.
The National Development and Reform Commission is investigating Qualcomm’s local subsidiary after it said in February that the US chipmaker was suspected of overcharging and abusing its market position in wireless communication standards, allegations which could see it hit with record fines of more than US$1 billion. Qualcomm’s Jacobs said the company was having “difficult discussions” with the regulator to find a “win-win solution.”
Qualcomm earned 49 percent of its global revenue in China, or US$12.29 billion for the year ended on September 29. In July, the company said it was partnering with Semiconductor Manufacturing International Corp, one of China’s biggest chipset makers, to manufacture Qualcomm’s Snapdragon processors.
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