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Qualcomm tries to end China dispute

Qualcomm Inc. (Nasdaq: QCOM) President Derek Aberle and a delegation of other executives from the company met with Chinese regulators on Thursday in order to resolve an antitrust investigation, according to a reports by the Reuters news agency and the Wall Street Journal.

The reports, based on a website posting by China’s National Development and Reform Commission (NRDC) with tersely worded confirmation by Qualcomm, quote the commission as saying that the executives were willing to revise their pricing policies in order to end the probe.

"Qualcomm executives discussed with NDRC officials several topics in an effort to reach a comprehensive resolution," Qualcomm told Reuters via email. "We are continuing to cooperate with NDRC and cannot comment further."

Qualcomm’s pricing policies have become a sore point for some Chinese smartphone makers -- some of whom have reportedly understated their sales to avoid paying royalties -- as well as the Chinese government, which has been investigating whether the company has been abusing its overwhelming dominance in the market.

A Reuters report earlier this week reported that NDRC officials had been discussing their probe with antitrust officials in South Korea, which fined Qualcomm $200 million in 2009 over similar charges. Reuters speculated that fines in China would be far higher, since that country accounts for roughly half of Qualcomm’s $25 billion in annual revenues.

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Qualcomm Inc.

Company Website

5775 Morehouse Dr.
San Diego, CA 92121

Company Trade Data

Stock Symbol Close
Change
Chg %Chg
Volume
52-Week
High Low
QCOM
59.91
  0.65  
+ 1.10%
8,924,775,000
78.53
52.17

Insider Trade Data

Date Insider Shares Type Value
10/05/2015 Renduchintala, Venkata S 2,700 Sell $150,066
10/05/2015 Renduchintala, Venkata S 2,700 Sell $150,066
10/01/2015 Amon, Cristiano Renno 2,737 Sell $146,621
10/01/2015 Amon, Cristiano Renno 2,737 Sell $146,621
09/11/2015 Vinciquerra, Anthony J 1,000 Purchase $54,700

Qualcomm Inc. Executive(s):

Irwin Mark Jacobs

  • Founding Chairman, CEO Emeritus

Paul Jacobs

  • Executive Chairman

Tamar Elkeles

  • Vice President

Don Jones

  • Vice President

Don Rosenberg

  • General Counsel

Mark Leslie

  • Vice President, External Affairs

Steven Altman

  • Vice Chairman

Steve Mollenkopf

  • Chief Executive Officer

Derek Aberle

  • President

Navrina Singh

  • Director of Product Management

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Watch all of our Top Attorneys 2015 videos.

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