South Korea Antitrust Ruling Consistent With Our Outlook for Qualcomm; Maintaining $72 FVE
On Dec. 27, South Korea’s Fair Trade Commission announced its decision regarding its investigation of Qualcomm, concluding that certain business practices related to the firm’s licensing agreements are in violation of Korean competition law. In addition to a fine of KRW 1.03 trillion (approximately $865 million), the FTC intends to issue a corrective order relating to the practices in question, which will not be disclosed for at least a few weeks, if not months.For Qualcomm, we are less concer...
Qualcomm is engaged in the development and commercialization of foundational technologies for the wireless industry. The company's segments include: Qualcomm CDMA Technologies, which is a developer and supplier of integrated circuits and system software based on code division multiple access, orthogonal frequency division multiple access and other technologies; Qualcomm Technology Licensing, which grants licenses or otherwise provides rights to use portions of its intellectual property portfolio, which, among other rights, include certain patent rights essential to and/or useful in the manufacture and sale of certain wireless products; and Qualcomm Strategic Initiatives, which makes investments.
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