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China Imposes Record Fine of Approx. US$975 Million (€863 Million) Under Its Anti-Monopoly Law

China's National Development and Reform Commission (NDRC) announced an RMB 6.088 billion (approximately US$975 million and €863 million) fine against Qualcomm Inc. for alleged abuse of its market position in China in violation of China's Anti-Monopoly Law (AML). This is the largest fine ever imposed by Chinese competition authorities and exceeds all but the largest antitrust fines levied in Europe. It is nearly twice the largest ever fine in the United States against a single company.

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