South Korean watchdog cuts fine on Qualcomm

  • News Digest

Mar 23, 2019-

SEOUL: South Korea’s antitrust regulator has lowered a decade-old penalty

imposed on US chipmaker Qualcomm Inc by 18 percent to $200 million, the Korea Fair Trade Commission (KFTC) said on Thursday. The reduction comes after the Supreme Court overturned in January one of several lower court rulings against the US firm for abusing its dominant market position. In 2009, the KFTC fined Qualcomm 273 billion won ($242.6 million) for abusing its market power in CDMA modem and radio frequency chips, which were then used in handsets made by South Korea’s Samsung Electronics Co Ltd and LG Electronics Inc. The KFTC said it had reset the penalty to reflect the Supreme Court’s ruling. (REUTERS)

Published: 23-03-2019 21:17

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