Qualcomm charged with price fixing in China

Qualcomm charged with price fixing in China

Summary: The US chipmaker could face a fine as the Chinese regulator holds 'substantial evidence' of price fixing.

TOPICS: China, Legal, Processors

China's top economic planning agency has said that it has found the US chipmaker Qualcomm to be price fixing, according to a China Daily report published on December 12, 2013.

Xu Kunlin, head of the department of price supervision at the National Development and Reform Commission (NDRC), told China Daily that his agency had obtained "substantial evidence against" Qualcomm.

However, while admitting that the Chinese regulators launched their antitrust probe on Qualcomm last month, the company also said that it is "not aware of any charge by the NDRC that Qualcomm has violated the anti-monopoly law".

Xu also noted that his Beijing department and local price supervision offices will recruit at least 170 new employees for the antitrust law enforcement team, and thus beef up the efforts against price fixing in the country. The Beijing office currently employs 46 people.

In August, Chinese regulators already levied a record fine of 670 million yuan ($109 million) against six foreign producers of milk formula for price fixing, according to China Daily.

NDRC said last Wednesday that it would focus on cracking down on price fixing in six industries: Aerospace, daily chemicals, automobile, telecommunications, pharmaceuticals, and home appliances.

Topics: China, Legal, Processors

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  • Whoever said "Qualcomm is the new Intel" had something right...

    amirite AMD fanboys?
    Jacob VanWagoner
  • I find it funny that China is now concerned about price fixing

    China has long been know to operate through bribes, deceit, poor quality, and lack of adherence to regulations if there were any.