Qualcomm facing $1billion fine or ban in China over trues issues
Qualcomm, the California, United States giant semiconductor outfit has been found to have been engaging in anticompetitive practice, a government investigation in China is about to announce.
Agents of China’s National Development and Reform Commission (NDRC) have been internally carrying out a 14-month scan on the company and cited that “significant progress” have been in a statement released last week.
If found guilty, Qualcomm could be on its way to paying a $1 billion fine to the Chinese, the biggest amount ever fined towards a company in the Peoples’ Republic. But panic not, Qualcomm isn’t likely to be deterred much even if the fine is carried out. The company earned nearly half of its $26.5 billion revenue last year from China alone and will be more than happy to make the payment in order to be left alone in the country.
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