October 11, 2017 / 1:30 PM / 9 months ago

Taiwan Fair Trade Commission fines Qualcomm more than $700 million

HONG KONG (Reuters) - The Taiwan Fair Trade Commission said on Wednesday it will fine U.S. chipmaker Qualcomm Inc (QCOM.O) T$23.4 billion (585.99 million pounds)for anti-trust violations of its chip technology.

FILE PHOTO - One of many Qualcomm buildings is shown in San Diego, California November 3, 2015. REUTERS/Mike Blake

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.

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

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