TAIPEI -- Taiwanese chipmaker MediaTek welcomed a local regulator's decision to slam U.S. rival Qualcomm with a fine for antitrust violations, saying the action will promote fair competition.
Taiwan's Fair Trade Commission fined Qualcomm 23.4 billion New Taiwan dollars ($776 million) on Wednesday for hindering fair competition with inequitable licensing practices. Qualcomm boasts the world's largest share of communications technology patents for smartphones.
"The move is helpful in shaping a fair, rational and competitive market," MediaTek said Friday.
Qualcomm expressed its disagreement with the decision on Thursday and plans to appeal after receiving formal notice from the commission.
This is not the first antitrust violation for the U.S. chipmaker, which has been hit with similar fines in China and South Korea. The decision may provide MediaTek with an opportunity to cut into Qualcomm's market share.