China imposes record anti-trust fine on Qualcomm

Chinese authorities have imposed a record fine of 6.09 billion yuan (994 million US dollars) on mobile chip maker Qualcomm following an anti-trust probe, it was announced Tuesday.

The National Development and Reform Commission said Qualcomm was found to have abused its market dominance and limited competition.

The watchdog requires the U.S. firm to modify its licensing practices in the country.