China's price regulator probes Qualcomm

Qualcomm Inc said China's price regulator has started an investigation of the mobile chipmaker under the Chinese Anti-Monopoly Law, sending the U.S. company's shares down 2.6 percent. Qualcomm said it was not aware of any violation but would cooperate with the investigation by China's National Development and Reform Commission (NDRC). Qualcomm, the world's biggest maker of cellphone chips, gets half of its revenue from China and has sought more growth there as telecom operators such as China Mobile upgrade their high-speed network services. The NDRC did not say why Qualcomm was being investigated.

via Tech News Headlines - Yahoo! News http://news.yahoo.com/qualcomm-says-chinas-price-regulator-probing-company-125339592--finance.html