HONG KONG (Reuters) - The Taiwan Fair Trade Commission said on Wednesday it would fine U.S. chipmaker Qualcomm Inc <QCOM.O> T$23.4 billion ($774.14 million) for anti-trust violations of its chip technology.
The Commission said in a Chinese-language statement that Qualcomm had a monopoly over the CDMA, WCDMA and LTE chip market and refused to license its technology to other industry players.
Qualcomm is required to submit a progress report on the matter every six months to the Commission on negotiations with related parties.
In a statement, Qualcomm said it disagreed with the decision. Once the final decision is issued in the coming weeks, Qualcomm said it will challenge the decision in court.
"The fine bears no rational relationship to the amount of Qualcomm's revenues or activities in Taiwan, and Qualcomm will appeal the amount of the fine and the method used to calculate it," Qualcomm said.
(Reporting by Meg Shen in Hong Kong and Lee Chyen Yee in Singapore and Stephen Nellis in San Francisco; editing by Louise Heavens and Lisa Shumaker)