Qualcomm achieved a ninefold reduction in the fine that was imposed on the company in Taiwan

The American mobile chip manufacturer Qualcomm has reached an agreement with the Taiwanese authorities and achieved a reduction in the fine previously imposed on the company for violations of antitrust laws by almost 9 times: from $773 million to $89 million, Bloomberg reports.

As noted in the message, the company has already paid this amount. As part of the agreement, Qualcomm committed to investing $700 million in Taiwan's economy over the next five years, as well as intensifying research activities on the island. In addition, Qualcomm will cooperate with local companies in the development of 5G.

In exchange, the chip manufacturer received the right to no longer pay the fine. Qualcomm will also be able to continue to receive licensing fees from local companies for the use of its technologies.

Recall that the Taiwan Anti-Monopoly Commission fined Qualcomm a record $773 million in October last year. According to the regulator's findings, Qualcomm committed violations for at least seven years and abused its dominant position in CDMA, WCDMA and LTE by refusing to license important technologies to companies that did not accept its terms. During this time, Qualcomm received $13.2 billion in licensing fees from Taiwanese companies.

In addition to imposing a fine, the commission also ordered Qualcomm to cancel a number of agreements requiring competitors to provide data about their customers and other information.