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Qualcomm fined in the US over China corruption allegations

John Ribeiro | March 2, 2016
The company was charged with offering jobs to relatives of Chinese officials, besides handing out gifts and entertainment.

The company said it is “pleased to have put this matter behind us.” It remains “committed to ethical conduct and compliance with all laws and regulations, and will continue to be vigilant about FCPA compliance,” Don Rosenberg, Qualcomm’s executive vice president and general counsel, said in a statement.

Qualcomm has previously had regulatory problems in China. In February last year it said it had agreed to pay a fine of about $975 million as part of a broader settlement with China's National Development and Reform Commission, which was investigating Qualcomm under the country's anti-monopoly law.

The company said earlier this year that it was setting up Guizhou Huaxintong Semi-Conductor Technology, a server chipset design and sales joint venture in which the investment arm of the provincial government of Guizhou would hold a majority stake. Like many other U.S. tech companies, Qualcomm appears to want to take advantage of such partnerships with local companies for easier access to the local market.

 

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