Qualcomm Pays $975M to Resolve China Antitrust Dispute

Qualcomm Inc (NASDAQ:QCOM) said on Monday it agreed to pay China a fine of $975 million, ending a 14-month government investigation into anti-competitive practices.

The deal also sees chip-maker Qualcomm lower its royalty rates on patents used in China, the company said in a statement.

Discussions in Beijing over one of the most contentious cases under China's 2008 anti-monopoly law had intensified in recent weeks, culminating in meetings between Qualcomm senior executives and National Development and Reform Commission (NDRC) officials on Friday.

Qualcomm is just one of several overseas companies, including Microsoft Corp, that have come under investigation in China for allegedly anti-competitive practices.

(Reporting by Matthew Miller in Beijing and Noel Randewich in San Francisco; Editing by Lisa Shumaker)