Qualcomm fined a giant fine

Qualcomm, one of the world’s largest manufacturers of mobile processors, can pay a hefty fine. The South Korean authorities have accused it of abusing the market position and imposed a fine of $ 853 million.

The Korean Fair Trading Commission (KFTC) has imposed a $ 853 million fine on Qualcomm for illegal practices. After a three-year investigation, the South Korean market watchdog acknowledged that the company had committed fraudulent business practices to become a mobile monopoly on the mobile processor market and throw rivals out.

KFTC claims that Qualcomm has restricted its rivals to access their patents. He also forced smartphone manufacturers to sign unfair license agreements by refusing to sell their processors to companies that did not agree to such terms of cooperation. In other words, Qualcomm, by using its position, has forcibly compelled companies to cooperate with it to make it profitable.

The mobile processor maker now has to pay a fine of 853 million. Obviously Qualcomm has 60 days to appeal against this decision and it can be assumed that it will do so, as the amount of penalty is gigantic. It should be added that this is not the first such large fine imposed on this concern.