China is fining chipmaker Qualcomm $975 million in the biggest of a wave of anti-monopoly penalties that have rattled foreign companies. Regulators said last year they were investigating whether Qualcomm abused their dominant market position by charging excessive fees for technology. For its part, Qualcomm says it is disappointed with the findings but will not contest the matter. The Chinese government is also looking into Microsoft’s Windows operating system and how it handles compatibility, bundling, and publication of documentation. For investors, the Chinese ruling resolves significant uncertainty about the future of Qualcomm’s business in China. Its stock added $1.93, or almost 3 percent, to $69.04 in after-hours trading. It had ended regular trading up 76 cents to $67.11.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
