Qualcomm Fined $975 Million in China, Sets Licensing Rates

Qualcomm Inc. was fined $975 million by Chinese antitrust regulators, who set new terms for smartphone makers to license the chipmaker’s technology, ending an inquiry that threatened the U.S. company’s growth in the biggest mobile market.

China’s National Development and Reform Commission issued a decision that Qualcomm violated its anti-monopoly law, the San Diego-based company said Monday in a statement. Qualcomm won’t challenge the ruling, which includes a fine of 6.088 billion yuan ($975 million) and imposes conditions on royalties charged on phones sold in China.