October 11, 2017 / 1:27 PM / in 8 days

Taiwan Fair Trade Commission fines Qualcomm more than $700 mln

HONG KONG, Oct 11 (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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