U.S. Licensing Company to Cooperate with NDRC in Investigation
Homar | | Feb 12, 2014 11:07 AM EST |
(Photo : blog.sina.com.cn) InterDigital was charged of having supposedly charged higher patent royalty fees from Chinese telecom firms like ZTE and Huawei compared to fees they collected from Samsung Electronics and Apple Inc
InterDigital Inc., the U.S. patent licensing company that has been charged of monopolistic practices by a court in Guangdong last October, has pledged to cooperate with China's anti-trust authorities who are at present conducting an investigation on the U.S. firm.
A confirmation of the American company's commitment to cooperate with Chinese authorities to resolve the matter was given by the anti-monopoly bureau of the National Development and Reform Commission (NDRC) on Monday. This recent move of InterDigital could mean a suspension of the ongoing investigation.
Like Us on Facebook
A final decision on the matter still has to be arrived at by the NDRC after it has done a close review of the case.
InterDigital was charged of having supposedly charged higher patent royalty fees from Chinese telecom firms like ZTE and Huawei compared to fees they collected from Samsung Electronics and Apple Inc. The company was also accused of unjust trade practices perpetuated to compel Chinese companies to take their offer.
InterDigital was ordered to pay Huawei 20 million yuan (US$ 3.28 million) as compensation for alleged monopolistic acts by a court in Guangdong Province last October.
Prior to last month's meeting with the NDRC, officials of InterDigital had previously refused to come to China for the investigation for fear of possible arrest or detention. Last month's meeting gave both parties the opportunity to clarify their stands on the matter.
Representatives of InterDigital said that they will further cooperate with the NDRC officials conducting the investigation until all issues and concerns are fully resolved.
According to the anti-monopoly laws of China, companies found guilty of violating its provisions and of not cooperating in investigations will be ordered to pay fines equivalent to a minimum of 1 percent of their total revenue in the preceding year to a maximum of 10 percent.
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?