December 05, 2019 08:21
U.S. chipmaker Qualcomm has lost an appeal against the Korea Fair Trade Commission, which imposed a record fine for unfair business practices.
The Seoul High Court on Wednesday upheld a lower court ruling that the fine worth W1.3 trillion is reasonable (US$1=W1,194).
The company was slapped with the hefty fine in 2016 for abusing its dominant market position by, among other things, limiting its patent licensing to handset makers that used its products exclusively.
Qualcomn said it will seek an appeal to the Supreme Court.
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