Korean Agency Fines Qualcomm $208M

Following a three-year inquiry and a seven-day hearing, the Korean Fair Trade Commission has fined Qualcomm $208 million and ordered the San Diego wireless chipmaker to end its unfair business practices in South Korea. In a statement, Qualcomm says it disagrees with the ruling and plans to appeal. Korean press reports say it is the largest fine to be imposed on a single company by the South Korean antitrust watchdog. In financial results released yesterday, Qualcomm said it was anticipating the fine. The company reported sales of $2.74 billion in the third quarter that ended June 28.

Bruce V. Bigelow was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Follow @bvbigelow

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