Qualcomm To Pay Nearly $1 Billion To China

San Diego-based Qualcomm said late Monday that it will pay $975 million to China, to settle China's claims that the company had violated its anti-monopoly laws. Qualcomm reached the record payment after a resolution with China's National Development and Reform Commission (NDRC). Qualcomm said it would not contest the fine or continue further legal proceedings, and also said it will offer licenses for current 3G and 4G technology separately from its other patents, and limit its royalties for 3G and 4G devices for Chinese manufacturers using branded devices sold for use in China. China determined in July of 2014 that Qualcomm had abused its market position in the wireless communications standard market.