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8 months ago
BRIEF-Qualcomm responds to announcement by Korea Fair Trade Commission
December 28, 2016 / 3:28 AM / 8 months ago

BRIEF-Qualcomm responds to announcement by Korea Fair Trade Commission

Dec 27 (Reuters) - Qualcomm Inc :

* Qualcomm responds to announcement by Korea Fair Trade Commission

* Says decision not effective until final written decision is issued

* Says "Qualcomm will vigorously defend itself and seek an immediate stay when final decision is issued"

* Qualcomm - KFTC intends to impose an administrative fine of about 1.03 trillion South Korean Won (about $865 million at current exchange rates)

* Says Korea Fair Trade Commission (KFTC) announced that it has reached a decision in its investigation of Qualcomm incorporated

* Says investigation finds that certain of company's business practices are in violation of Korean competition law Source text for Eikon: Further company coverage:

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