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It might be possible that Qualcomm will have to pay a huge anti-trust fine in South Korea. A fine of 1.03 trillion won ($854 million) for unfair patent licensing practices was given to Qualcomm by the Korea Fair Trade Commission (KFTC). According to Reuters, the KFTC decided this after they discovered that Qualcomm was taking advantage of its powerful market position to force companies to pay royalties “for an unnecessarily broad set of patents.” The creators of Snapdragon also limited access to its patents to their competitors. This prevented fair competition.

Allegedly, Qualcomm made 30% of its $25 billion revenue from patent-licensing deals last year. The KFTC expect that this action will “correct a business model that allowed Qualcomm to maintain and extend its dominance.” Qualcomm “strongly disagrees” with this decision, and obviously, have plans to appeal to the Seoul High Court.

Despite this, this isn’t the first time Qualcomm has received a huge fine. Qualcomm had to pay $975 million in China after a similar investigation took place in 2015. Taiwan and the United States are also currently investigating the company.

Source: | Reuters |

Via: | Engadget |

Image Credit: | Engadget |

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