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Qualcomm’s 23.4 billion settlement plan fair meeting confirmed for the first time: the US$700 million investment in Taiwan has reached the standard | Technology Industry | Industrial Economics

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Fair will be held for 107 years withQualcommA settlement was reached, and the original 23.4 billion fine was changed to a condition of investing 700 million U.S. dollars (approximately NT$21 billion) in Taiwan within seven years. The end of this year is the settlement deadline.fair meetingChairman Li Mei confirmed for the first time at the Legislative Yuan Economic Committee today that “Qualcomm’s current investment amount in Taiwan has reached 700 million US dollars.” She said that Qualcomm is currently executing in accordance with the settlement conditions, and the process is considered smooth.

In 2016, the Fair Council fined Qualcomm a whopping 23.4 billion yuan on the grounds of monopoly. However, there was a big reversal the next year. Qualcomm and the Fair Association reached a settlement. Qualcomm promised to invest US$700 million in the next five years to implement Taiwan’s industrial plans, including 5G cooperation, new market expansion, cooperation with start-ups and universities, and the establishment of Taiwan operations. and Manufacturing Engineering Center.

The Economic Committee of the Legislative Yuan today reviewed the 113-year budget of the Fair Council. Legislators are concerned that the Fair Council and the reconciliation period are about to expire at the end of the year. Will the Fair Council pay close attention to the progress of Qualcomm’s implementation of the settlement?

Lai Ruilong asked that Qualcomm settled a settlement of more than 20 billion yuan and the case will be concluded before the end of the year. However, Qualcomm reported layoffs a while ago. Will the fair committee track the progress of the implementation of the settlement conditions? Does the layoffs violate the settlement conditions? This matter is of great concern to the Chinese people. If Qualcomm makes a false move, the Chinese people will not be able to accept it and demand that the fair fair must safeguard the rights and interests of the Chinese people.

Li Meisheng said that the progress of the settlement with Qualcomm has been reviewed regularly with various ministries and is currently being implemented in accordance with the terms of the settlement. Qualcomm’s layoffs are global personnel adjustments and will not affect investment in Taiwan. Fairness will keep a close eye on the progress at all times.

Later, when he responded to legislator Lu Yuling’s question about whether Qualcomm has reached the original promised investment of 700 million U.S. dollars so far, Li Mei responded for the first time that the settlement with Qualcomm has legal effect. Taking stock at any time, the current amount (Qualcomm’s investment in Taiwan) has reached 700 million. She said that this year is the last year, and Qualcomm is currently executing according to the settlement conditions, and the process is considered smooth.

Qualcomm’s 23.4 billion settlement plan fair meeting confirmed for the first time: the investment of 700 million US dollars in Taiwan has reached the standard

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Tags: Qualcomms billion settlement plan fair meeting confirmed time US700 million investment Taiwan reached standard Technology Industry Industrial Economics

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