Qualcomm fined $975 million in China

Updated: 2015-02-10 08:14

By Lan Lan and Gao Yuan(chinadaily.com.cn)

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No 7 Baijiu liquor price fixing

In Feburary 2013, Kweichow Moutai Co Ltd and Wuliangye Yibin Co Ltd were fined a total of 449 million yuan by the NDRC for setting up a price monopoly. The fine accounted for one percent of the two companies' total revenues in 2012.

The NDRC fined Moutai for 247 million yuan and Wuliangye for 202 million yuan.

Qualcomm fined $975 million in China

A bottle of Moutai spirit and a bottle of Wuliangye spirit are shown off at an expo in the city of Luzhou, Southwest China's Sichuan province on March 23, 2014. [Photo/IC]