China's Market Regulator Launches Antitrust Investigation Against Qualcomm for Alleged Violation

Stock News10-10

China's State Administration for Market Regulation (SAMR) has announced the launch of a formal investigation into Qualcomm Inc. (QCOM.US) for alleged violations of the country's antitrust regulations.

The investigation stems from Qualcomm's acquisition of Autotalks, which the company allegedly failed to report to Chinese authorities as required under the operator concentration provisions of China's Anti-Monopoly Law. This failure to comply with mandatory reporting requirements is suspected to constitute a breach of the Anti-Monopoly Law of the People's Republic of China.

Based on these suspected violations, SAMR has decided to initiate a formal case investigation against Qualcomm in accordance with applicable laws and regulations.

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