Taiwan Fair Trade Commission fines Qualcomm more than $700 million

Last Updated: Wed, Oct 11, 2017 20:04 hrs
FILE PHOTO: Qualcomm's logo is seen during Mobile World Congress in Barcelona

HONG KONG (Reuters) - The Taiwan Fair Trade Commission said on Wednesday it will fine U.S. chipmaker Qualcomm Inc T$23.4 billion ($774.14 million) for anti-trust violations of its chip technology.

The Commission said in a Chinese-language statement that Qualcomm had a monopoly over the CDMA, WCDMA and LTE chip market and refused to licence its technology to other industry players.

Qualcomm is required to submit a progress report on the matter every six months to the Commission on negotiations with related parties over the issue.

($1 = 30.2270 Taiwan dollars)

(Reporting by Meg Shen in Hong Kong and Lee Chyen Yee in Singapore, editing by Louise Heavens)

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