Qualcomm Wins Taiwan Reprieve Amid Global Antitrust Battle
- Regulators agree to cut $773 million fine by roughly 88%
- Qualcomm pledges to boost investment and build a Taiwan base
This article is for subscribers only.
Qualcomm Inc., the smartphone chipmaker fighting regulatory actions and lawsuits threatening its most profitable business, has reached a settlement with Taiwan’s antitrust regulators that reverses most of a $773 million fine.
As part of an agreement announced Friday by the Fair Trade Commission, the company will invest $700 million over the next five years and boost research activities in Taiwan, home to a clutch of important suppliers to global names such as Apple Inc. In return, Qualcomm can stop paying fines and retains the right to charge manufacturers royalties on its technology. The commission said Friday it will keep NT$2.73 billion ($89 million) in fines that Qualcomm’s already paid but waive the rest.