Qualcomm faces Chine anti-trust probe
HONG KONG (CNNMoney) — China’s crackdown on corporate malpractice continues, and this time Qualcomm is in the firing line.
Qualcomm said the Chinese government agency had not revealed the substance of the investigation. The company wasn’t aware of any charge that it had broken anti-monopoly laws, it added.
The Chinese government is waging a campaign against market abuse and corruption, which has led to greater scrutiny of corporate practices that affect the prices consumers pay. Qualcomm is the latest foreign company to be netted in the crackdown.
Last month, state media fingered Starbucks for charging too much for coffee. In August, the government levied a $108 million fine against six dairy companies including Danone and Mead Johnson for unfairly fixing the price infant formula products. And earlier this year, several…
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