Qualcomm Slapped With $853 Million Fine by South Korea

Shares of Qualcomm were under pressure on Wednesday after South Korea's antitrust regulator slapped a $853 million fine on the U.S. tech company for violating competition laws.
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Shares of Qualcomm (QCOM) - Get Report were under pressure on Wednesday after South Korea's antitrust regulator slapped a $853 million fine on the U.S. tech company for violating competition laws. The South Korean Fair Trade Commission says the company breached antitrust laws by limiting competing chip makers' access to its patents and forcing mobile-phone makers into unfair license agreements.

Qualcomm has rejected the ruling and plans to appeal it in court.

This is the latest antitrust ruling that Qualcomm has faced. Last year, the company paid nearly a billion dollars to settle with Chinese antitrust authorities. Back in 2009, South Korea fined the company $225 million. Qualcomm appealed the ruling, but a decision is still pending.

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