Qualcomm Faces Probe From NDRC


News: China's National Development and Reform Commission (NDRC) has started an inquiry related to an anti-monopoly law against US-based technology company Qualcomm. However, the company is not aware of any charge by the NDRC that it had broken the law. The Chinese government has increased corporate scrutiny with an anti-corruption drive and crack down on business practices that resulted in higher consumer prices. The company's intent to expand technology reach and chips in China is expected to be the reason for the probe, especially as the local chip industry tries to compete with overseas suppliers, according to Gus Richard, an analyst at Piper Jaffray & Co.

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Geography: China