WSJ: Qualcomm unit will help Chinese phone makers sell abroad

According to report in The Wall Street Journal, a dedicated unit by Qualcomm will help Chinese smartphone manufacturers sell their hardware overseas. The chipmaker recently settled a massive antitrust investigation in China by paying a fine of $975 million.

The move is part of Qualcomm’s efforts to strengthen its relationships with manufacturers in China. A company executive told WSJ that the San Diego-based maker of the popular Snapdragon chipsets has set up a globalization office in Shenzhen, which will help local companies touch base with markets abroad.

As a result of the antitrust settlement, Qualcomm will reduce the royalties it collects from manufacturers in China and be more transparent about its local business ventures. The tech giant will also start a $150 million fund that will invest in local startups.

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