Qualcomm may have lost its long-winded deal to buy NXP on account of ChinaÂ and it continues to battle lawsuits worldwide, but the company does have a dose of good news out of Asia today after it settled an antitrust investigationÂ in Taiwan.
The U.S. chip firm was hit with a recordÂ $773 million fine last October when it was accused of monopolistic practices, but Qualcomm and theÂ Taiwan Fair Trade Commission (TFTC) said today they have reached an agreement that sees theÂ charges dropped in exchange for the firm investing $700 million in the country.
TheÂ TFTC will keep hold of theÂ NTD 2.73 billion ($93 million) portion of fines that Qualcomm paid this summer in exchange for a promise that Qualcomm will make the $700 million investment over the next five years, according to Bloomberg.
Qualcomm didn’t explicitly mention that figure in its statement on the agreement, but it did outline its proposed “commercial initiatives:”
Qualcomm will drive certain commercial initiatives in Taiwan over the next five years for the benefit of the mobile and semiconductor ecosystem, SMEs and consumers,