Qualcomm to make first payment for violating competition law in Taiwan

The first payment is part of 60 installments that Qualcomm will have to fork out for the fine totaling T$23.4 billion the commission slapped on the chipmaker for the violations, the regulator told a news conference.

As part of the agreement, the chipmaker will make monthly payments over the next five years to pay off the fine, the commission said.

Earlier, the commission said Qualcomm had a monopoly over the chip market for several so-called modem technologies, which provide wireless data connectivity for mobile phones, and refused to license its technology to other industry players.

Qualcomm's fine is the latest in a years-long streak of regulatory setbacks to its business model that comes as it also fights U.S. regulators and iPhone maker Apple Inc in court over many of the same legal issues.

In December 2016, South Korean regulators fined Qualcomm $854 million for violating its competition laws, a ruling that followed a $975 million fine from Chinese regulators in 2015.

(Reporting by Jeanny Kao in Taipei; Writing by Lee Chyen Yee; Editing by Jacqueline Wong)