(Yicai Global) Oct. 27 -- Qualcomm Inc. [NASDAQ:QCOM] has suspended its 5G technology development collaboration with Taiwan's Industrial Technology Research Institute (ITRI) after the Taiwanese Fair Trade Commission imposed a USD780 million (NTD23.4 billion) fine on the firm for antitrust regulation violations on Oct. 11, Cww.net.cn reported.
The ITRI confirmed that Qualcomm has unilaterally suspended its ongoing 5G cooperation today.
Qualcomm's chief executive recently visited Taiwan and met with senior Taiwanese officials, but the company still decided to halt the cooperation.
Paul E. Jacobs, executive chairman of Qualcomm's board, signed a memorandum on 5G cooperation with Taiwan's Ministry of Economic Affairs last year to participate in the Asia Silicon Valley project. Qualcomm planned to invest millions of dollars, establish technology labs in Taiwan and work with Taiwanese technology teams to help the island develop 5G technologies, products, services and design product solutions.