China regulators says
Qualcomm seeks to end anti-trust probe
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[August 22, 2014]
BEIJING (Reuters) - U.S.
chipmaker Qualcomm Inc <QCOM.O> is seeking to end an
investigation by China's pricing regulator into monopoly
practices, the company said on Friday, expressing its
willingness to improve and correct pricing issues
according to the regulator.
The National Development and Reform Commission (NDRC), in a
statement on its website, said its officials had met on Thursday
with a delegation from Qualcomm which included company President
"Qualcomm executives discussed with NDRC officials several topics in
an effort to reach a comprehensive resolution," the company said in
an e-mailed statement. "We are continuing to cooperate with NDRC and
cannot comment further."
The NDRC gave no further details.
The regulator is investigating Qualcomm's local subsidiary after it
said in February the U.S. 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 $1
Last month, a state-run newspaper said the NDRC had determined that
Qualcomm had a monopoly but did not say whether the regulator had
determined that the company had abused this monopoly. Qualcomm is
one of the world's biggest mobile chipmakers.
Qualcomm is one of at least 30 foreign firms to come under scrutiny
as China seeks to enforce a 2008 anti-monopoly law which some
critics say is being used to unfairly target overseas businesses,
raising protectionism concerns.
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Companies being investigated for anti-trust issues include Microsoft
Corp <MSFT.O> and automaker Volkswagen AG <VOWG_p.DE>. This week,
the NDRC slapped a record $201 million fine on 12 Japanese
automakers it said had engaged in price manipulation.
(Reporting by Paul Carsten, Matthew Miller and Beijing Newsroom;
Editing by Miral Fahmy and Matt Driskill)
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