A lot of technology giants has faced Antitrust and Patient violation in multiple countries over the last few years. This time Qualcomm faces antitrust accusation, under which a regulator within South Korea wants to fine $853 Million over its own patent-licencing business. This is not the first time that Qualcomm is facing an antitrust accusation, they have settled such accusation on multiple countries over some years. Qualcomm Recently settled a big one with in the country China, and they were accused of similar allegations in the EU back in 2015.
On Wednesday, the Korea Fair Trade Commission (KFTC) found the company abusing its market position and collecting royalties from handset makers for a broader set of the patient. The commission feels that Qualcomm is forcing smartphones OMEs into unfair licence agreements by restricting or refusing the supply of important chips to companies who didn’t agree on their terms.
The smartphone chip manufacturer Qualcomm has been fined $853 Million Approximately for their unfair business practices. The Commission has ordered Qualcomm to negotiate in good faith with the OMEs on patient licencing and renegotiate chip supply agreements. The fine charged on Qualcomm is the largest ever on South Korea.
This recent ruling won’t go into effect until the commission issues a formal written order, which is said to take anywhere from weeks to months to put together. It’s at this point where Qualcomm will have 60 days to either pay the fine or start the appeal process.
