Taiwan Fair Trade Commission fines Qualcomm more than $700 million

HONG KONG (Reuters) - The Taiwan Fair Trade Commission said on Wednesday it will fine U.S. chipmaker Qualcomm Inc (QCOM.O) T$23.4 billion ($774.14 million) for anti-trust violations of its chip technology.

The Commission said in a Chinese-language statement that Qualcomm had a monopoly over the CDMA, WCDMA and LTE chip market and refused to license its technology to other industry players.

Qualcomm is required to submit a progress report on the matter every six months to the Commission on negotiations with related parties over the issue.