SEOUL: A South Korean court on Wednesday upheld a record US$873 million fine against U.S. chip giant Qualcomm for unfair business practices related to patent licensing and modem chip sales, rejecting the company's appeal against the penalty.
"The defendant exerted a significant influence over mobile phone manufacturers either through unfair relationships or making them depend on the defendant's supplies of modem chipsets," Noh said in his ruling. The company forecast between US$1.3 billion and US$1.5 billion in revenue for that segment for its fiscal first quarter, above analyst expectations, according to IBES data from Refinitiv.
In a sign it retains its strong market position even after the KFTC ruling, Qualcomm has since extended its strategic relationship with global smartphone leader Samsung and in August entered into a new five-year patent license agreement with LG.
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