The Taiwan Fair Trade Commission said on Wednesday it will fine U.S. chipmaker Qualcomm 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 over the issue.
"Qualcomm disagrees with the decision summarized in the TFTC's press release and intends to seek to stay any required behavioral measures and appeal the decision to the Taiwanese courts after receiving the TFTC's formal decision, which is expected in the next several weeks," the company said in a statement. "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."
- CNBC's Sara Salinas contributed to this report.