Boston, MA 08/15/2014 (wallstreetpr) – QUALCOMM, Inc. (NASDAQ:QCOM) has stated that it has got no financial links with the antitrust expert who was sacked from the government advisory post on charges of receiving the payments from the firm. It is facing the probe since November by the one of the China’s three antitrust regulators. The investigation is conducted by the National Development and Reform Commission. It is on the matter of licensing process of patents and pricing of chipsets.
The compliance fight
China antitrust regulators are keenly watching the foreign firms who are not following the 2008 anti-monopoly law. The investigation is carried out to bring the companies into compliance with the law. The companies can be charged with the financial penalties amounting to 10% of the firm’s annual revenue. QUALCOMM, Inc. (NASDAQ:QCOM) is also facing the investigation on the matter.
Submission of economic analysis
It will present the economic analysis report for the regulator and, therefore, has hired Global Economics group for the task. It appointed two more co-writers to assist the Global Economics Group. One is Zhang Xinzhu, member of CASS and the other one is the leading antitrust expert of China. Zhang was the one who was dismissed from the expert commission on charges of taking huge rewards from the company. There is no financial dealing with Zhang. However, it will pay the standard rates to Global Economics for its services.
The previous analysis
It is a normal trend to hire economists to prepare the economic analysis reports that can be submitted to the antitrust authorities. It is a practice followed in the China and also in the other parts of the world. QUALCOMM, Inc. (NASDAQ:QCOM) has submitted its analysis to the NDRC in May. It was prepared by three authors. One was again Zhang in the group. The professor has provided its analysis for various domestic conglomerates including China Telecom, China Mobile and China Unionpay.
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