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Chip manufacturer Qualcomm was fined $975 million in China by anititrust regulators after it was found to have violated anti-monopoly laws in the country.

The company has agreed to honor China’s National Development and Reform Commission’s decision, which includes the near-$1 billion fine and rectified licensing conditions on its royalties for devices sold in the country.

Going forward, Qualcomm will offer licenses to its current 3G and 4G essential Chinese patents separately from licenses to its other patents, allowing the company’s customers to implement its technologies in a cost-effective manner.

In addition, Qualcomm will charge a licensing rate of 5% for 3G devices and 3.5% for 4G devices in China, similar to its practices in other regions. However, the base value of these devices will be assessed at 65 percent of their selling price.

The resolution with China’s NRDC will allow Qualcomm to pursue its existing commitments and upcoming opportunities in the country.

Credit TNW