One of the biggest chipmakers in the world, Qualcomm, has been recently slapped with a $774 million fine by the Taiwan’s Fair Trade Commission. According to local reports, the chip maker has been abusively using their monopoly over smartphone modems to press more licensing contingencies and payments out of their customers.

The anti-trust violation has been fined for Qualcomm and the announcement broke through the whole market today. The Taiwanese regulators have posted the details on their website, on the other hand, Qualcomm has disregarded the antitrust claims and expressed that they are disagreeing with the claim and an appeal is expected to run this coming day.

More on Qualcomm’s Fine

The U.S. chipmaker has been slammed with one a hefty $774 million fine and according to Taiwan’s Fair Trade Commission; they have been continually breaching and transgressing the antitrust rules for the past 7 years. The report also mentioned that Qualcomm managed to collect a massive NT$ 400 billion with their licensing fees from local Taiwanese companies during the whole duration of the claimed 7 years of breaching the antitrust rules.

According to the FTC, “Qualcomm holds a big number of standard-essential patents in CDMA, WCDMA and LTE segments and is the dominant provider of CDMA, WCDMA, and LTE baseband chips,” and “It abused its advantage in mobile communication standards, refused to license necessary patents.”


Qualcomm’s Response

On an earlier note, the chip maker said that they are disagreeing with the claim and are looking to pass a motion and challenge it in court. According to Qualcomm, “The fine bears no rational relationship to the amount of Qualcomm’s revenues or activities in Taiwan, and Qualcomm will appeal the amount of the fine and the method used to calculate it,”

Qualcomm’s Past Debacle

This is the latest of the fines and charges that the chipmaker has stumbled upon and looking at the pass, the chipmaker has been hammered with the same penalty among other countries such as South Korea, China, Japan, the European Union, and a couple of countries elsewhere. A notable battle that Qualcomm had in the past is with the tech giant Apple and their iPhones, which resulted to a massive paycheck cut for Qualcomm.

Last December, Korean regulators pushed a massive fine against the chip maker at $854 million for breaching the local competition law. The Chinese regulators, on the other hand, were the first to give Qualcomm a massive fine last 2015 at $965 million.

Follow FSM News for your round-the-clock market update! We provide you with the latest news surrounding Forex, commodities, automobile, consumer, financial, economy, and technology. Never miss any news beat! Subscribe now!