Qualcomm may faces record US$1bil antitrust fines in China

BEIJING: Qualcomm Inc, the world's biggest cellphone chip maker, may be hit with a record fine exceeding $1 billion in a Chinese antitrust probe, raising the specter of harsh penalties for foreign firms facing an increasingly aggressive regulator.

China's National Development and Reform Commission (NDRC) initiated an investigation into Qualcomm last year and is currently holding talks with the U.S. company, which this month said it was still in the dark about the basis of the scrutiny.