Largest FTC fine ever targeting a single company: reports
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – The Fair Trade Commission on Wednesday announced it was
fining U.S. chipmaker Qualcomm NT$23.4 billion (US$773 million) for violations of the Fair Trade Act in a record amount for a single company so far.
The investigation leading up to the ruling began in February 2015 and included study trips to South Korea and probes of a wide range of domestic and foreign microchip and smartphone manufacturers, the Central News Agency reported.
Since the violations extend over a period of seven years, the FTC considered the issue as serious, explaining the record level of the fine, the highest for a single company since the independent government agency started operating about 25 years ago.