Taiwan’s Fair Trade Commission slaps Qualcomm with record US$773 million fine

Largest FTC fine ever targeting a single company: reports


Qualcomm slapped with record fine by Taiwan's Fair Trade Commission. (By Associated Press)

TAIPEI (Taiwan News) – The Fair Trade Commission on Wednesday announced it was fining U.S. chipmaker Qualcomm NT$23.4 billion (US$773 million) for violations of the Fair Trade Act in a record amount for a single company so far.

The investigation leading up to the ruling began in February 2015 and included study trips to South Korea and probes of a wide range of domestic and foreign microchip and smartphone manufacturers, the Central News Agency reported.

Since the violations extend over a period of seven years, the FTC considered the issue as serious, explaining the record level of the fine, the highest for a single company since the independent government agency started operating about 25 years ago.

The U.S. company is no stranger to anti-trust investigations, with China and South Korea already having leveled fines and the European Union also among its accusers.

Qualcomm was founded in 1985 in San Diego, California, and makes semiconductors under the Snapdragon brand while also licensing patents.