QUALCOMM Inc. settled an antitrust case with the Taiwan Fair Trade Commission, or TFTC, and agreed that the agency would retain a NT$2.73 billion fine the company previously paid, far less than the agency was seeking.
The telecommunications semiconductor maker will also work on technology initiatives in Taiwan, including 5G collaboration, over a period of five years. The investments are valued at about $700 million, Bloomberg News reported separately. Bloomberg also noted that the fine Qualcomm agreed to was about 88% less than what the TFTC initially imposed.
"This settlement directly addresses concerns raised by the TFTC, regardless of disputed positions, and builds on our foundation of collaborative, long-term business relationships in Taiwan," said Qualcomm Technology Licensing President Alex Rogers.
As of Aug. 9, US$1 was equivalent to NT$30.67.