Qualcomm to pay $975M antitrust fine to China

San Diego-based chipmaker Qualcomm Inc. said Monday it will pay a $975 million fine as part of a long-awaited settlement with Chinese antitrust authorities, which also includes several changes to Qualcomm’s practices in licensing patents for mobile phones sold in China.

The largest manufacturer of smartphone chips, Qualcomm recently announced China accounted for about half of the company's revenue, which totaled $26.5 billion in the fiscal year ended in September.

According to the Wall Street Journal, China’s National Development and Reform Commission found the company violated the country's antimonopoly law. The details of the finding have not yet been released.

Read more from the Wall Street Journal.