The Taiwan Fair Trade Commission recently ruled in favor of the $773 million USD fine against Qualcomm, but the company plans on appealing the court’s final word.
Qualcomm might not be a household name for everyone, but chances are your phone is powered by one of the company’s processors. Qualcomm was hit with a healthy fine of $23.4 billion Taiwan dollars (around $773 million in USD) for reportedly violating Taiwan’s competition law, and the Taiwan Fair Trade Commission (TFTC) recently issued a press release saying that it agrees with this fine.
Following this announcement, Qualcomm responded by saying that it disagrees and will be appealing to the decision made by Taiwanese courts once they have time to review what the TFTC has to say.
It’ll take weeks before the court issues a final word on the matter, and according to Qualcomm, the fine that it’s charged with has “no rational relationship to the amount of Qualcomm’s revenues or activities in Taiwan.”
Qualcomm has been hit with a streak of bad luck and press lately, and although the company will appeal the court’s decision, the TFTC deciding against Qualcomm certainly doesn’t make matters any better.