SAN DIEGO, Sept. 4, 2017 /PRNewswire/ -- Qualcomm
Incorporated (NASDAQ: QCOM) today announced that the Seoul High
Court (Court) has denied the Company's application to stay the
operation of the remedial order issued against it by the Korea Fair
Trade Commission (KFTC). Qualcomm will file an immediate appeal of
the stay decision to the Korea Supreme Court.
The Court denied Qualcomm's stay application after finding that
the Company's business will not suffer irreparable harm if the
KFTC's order remains in effect. The KFTC's order reviewed by the
Court does not invalidate any existing license agreements, does not
prohibit Qualcomm from entering into licenses for its standard
essential patents (SEPs) and other patents at the device level and
does not limit the royalties Qualcomm can seek or collect for SEPs
under its current or future licenses as long the license agreements
are consistent with Qualcomm's FRAND commitments. As the Company
has described in its prior public financial statements, the order
requires Qualcomm to engage in good-faith negotiations with chip
companies seeking a license and to negotiate possible amendments
with current licensees upon request.
The Court's decision to deny Qualcomm's stay application does
not impact Qualcomm's appeal of the underlying KFTC decision, which
the Seoul High Court will consider later. Qualcomm continues to
believe that the KFTC's decision is not supported by the facts and
law, and was the product of a hearing and investigation that denied
Qualcomm fundamental due process rights. Qualcomm also
intends to preserve and pursue its arguments that the KFTC's
underlying decision exceeds its authority and principles of
international law by inappropriately seeking to regulate
intellectual property rights arising under the laws of other
nations, including the United States.
About Qualcomm
Qualcomm's technologies powered
the smartphone revolution and connected billions of people. We
pioneered 3G and 4G – and now we are leading the way to 5G and a
new era of intelligent, connected devices. Our products are
revolutionizing industries, including automotive, computing, IoT,
healthcare and data center, and are allowing millions of devices to
connect with each other in ways never before imagined. Qualcomm
Incorporated includes our licensing business, QTL, and the vast
majority of our patent portfolio. Qualcomm Technologies,
Inc., a subsidiary of Qualcomm Incorporated, operates, along with
its subsidiaries, all of our engineering, research and development
functions, and all of our products and services businesses,
including, our QCT semiconductor business. For more information,
visit Qualcomm's website, OnQ blog, Twitter and Facebook pages.
Qualcomm Contacts:
Peter Lancia, Corporate
Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
John Sinnott, Investor
Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
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SOURCE Qualcomm Incorporated