TAIPEI, Taiwan - Qualcomm Technologies, Inc. announced that they have reached a settlement with Taiwan’s Fair Trade Commission(FTC) and have settled the lawsuit brought against Qualcomm for violating regulations of the Taiwanese Fair Trade Commission.
The two parties reached a bilateral agreement that in addition to not contesting a NT$2.73 billion penalty, they will also commit to a US$700 million (approximately NT$2.14 billion) five-year industrial plan and investment cooperation in Taiwan which includes a 5G collaboration, new market expansion, and cooperation for new universities and startups. In addition they will also establish an operations and manufacturing center in Taiwan.
Qualcomm Executive Vice President and President of Qualcomm Technology Licensing Alex Rogers stated that they are happy to have put aside litigation with the Fair Trade Commission and reach a mutually favorable bilateral consensus. They are also extremely satisfied and once again pledge to give authorization to their important intellectual property rights in accordance with the principles of fairness and mutual trust.
Following the removal of these uncertainties, Qualcomm can now focus on mutual cooperation to support Taiwanese wireless technology and rapidly developing 5G technology.
(TR/ Phil Sweeney)
