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Qualcomm nearing deal to pay $1 billion in China
Qualcomm, the chip-maker that gets half of its revenue from China, is nearing a deal to pay a $1 billion fine to the Chinese government after a 14-month antitrust investigation, according to Reuters, Bloomberg, and Chinese media.
In the deal, Qualcomm may lower its royalty rates by one-third on patents in China. The settlement may be announced later today (Monday, February 9). If the fine is actually $1 billion, it would be the largest paid by any company in China.
Investors seem relieved by the possibility of a settlement, despite its size and other concessions. The stock is trading at $67.47, up 1.68 percent, although it started trading as high as $68.96 and has been drifting downward.
Here's something you might be interested in.
Qualcomm nearing deal to pay $1 billion in China
Qualcomm nearing deal to pay $1 billion in China
Qualcomm, the chip-maker that gets half of its revenue from China, is nearing a deal to pay a $1 billion fine to the Chinese government after a 14-month antitrust investigation, according to Reuters, Bloomberg, and Chinese media.
In the deal, Qualcomm may lower its royalty rates by one-third on patents in China. The settlement may be announced later today (Monday, February 9). If the fine is actually $1 billion, it would be the largest paid by any company in China.
Investors seem relieved by the possibility of a settlement, despite its size and other concessions. The stock is trading at $67.47, up 1.68 percent, although it started trading as high as $68.96 and has been drifting downward.
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