Taiwanese President Tsai Ing-wen is expected to stop over in the U.S. on Friday on her way back from visiting diplomatic allies in the Caribbean, a move that's sure to make...China Politicsread more
Regional stability, oil prices and potential for war will all depend on what Iran does with its nuclear program in the event of the deal's termination.World Politicsread more
Libra and bitcoin are different in a lot of ways, from the technology behind them to the way they're used.Technologyread more
Stocks in major Asia Pacific markets made strong gains on Friday, as comments from a U.S. Federal Reserve official led to rising expectations the central bank could ease...Asia Marketsread more
Boeing will take a nearly $5 billion charge in the second quarter to compensate 737 Max customers as the planes remain grounded.Airlinesread more
Earlier, Williams delivered a speech at the annual meeting of the Central Bank Research Association in which he said, "It's better to take preventative measures than to wait...The Fedread more
The base version of the sports car will punch out 495 horsepower, 40 more than the seventh-generation car and enough to launch it from 0 to 60 in "less than three seconds"...Autosread more
Animation fans and Kyoto residents gathered at the site of Japan's worst mass killing in 18 years on Friday, offering flowers and prayers for the 33 people who died in an...Asia Newsread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Microsoft beat on top and bottom lines, and guidance was just ahead of expectations, but the company's Azure growth is slowing down.Technologyread more
"We've seen Netflix stumble before, especially maybe after a price hike, but not quite like this," Jim Cramer says.Mad Money with Jim Cramerread more
The state-run Securities Times newspaper reported that the country's powerful antitrust regulator has determined that Qualcomm has a monopoly. The regulator, the National Development and Reform Commission (NDRC), is investigating Qualcomm's local unit for allegedly overcharging and abusing its market position. The NDRC started its investigation last November.
The paper, which quotes unnamed sources close to the NDRC, did not say whether Qualcomm had abused its monopoly.
However, the Communist Party-backed Global Times newspaper did. In an article, the paper argues that, in the high end cellphone market, companies choose Qualcomm chips because "they don't have other choices."
"Qualcomm has an absolute monopoly in wireless communication standards and chips," the paper reads. "Its high – and only high – licensing fees have generated Qualcomm incomparable profits and cash flow compared to its competitors giving Qualcomm more capital for chip R&D….This is why, in a 4G era, it is difficult for Huawei Kirin 920 to hold on till today."
The state press reports ran one day after Qualcomm said on an earnings conference call that its licensing patents business faced "significant challenges" in China. China is an important market for Qualcomm due to the country's fast growing smartphone market. CEO Steven Mollenkopf is in China to launch a US$150 million venture fund.
The Securities Times reported the NDRC is investigating Qualcomm's sales data, a move that could be a precursor to determining penalties. Analysts say the company could face a billion dollars in fines.
The reports also come at a time when many in the international business community in China have been frustrated with what they say is a hostile work environment and feel foreign companies are being increasingly targeted as the government attempts to improve standards for various industries, including food and pharmaceuticals.
One consultant, who wished not to be named, complained that China uses its leverage from its dominant market position to get its way with foreign companies—ironically, exactly what China appears to be accusing Qualcomm of.
—By CNBC's Eunice Yoon