Boston, MA 09/12/2014 (wallstreetpr) – QUALCOMM, Inc. (NASDAQ:QCOM) is remaining firm on its pursuance of opportunities in China despite the unending scrutiny from regulators, on allegations it is violating anti-monopoly laws. Bloomberg reports that the giant chip maker expects to grow on the increase in semiconductor needs and demand.
Regulators Unending Scrutiny
Qualcomm Chairman, Paul Jacobs has already expressed his optimism that the company will grow its market share despite the recent headwinds. QUALCOMM, Inc. (NASDAQ:QCOM) is especially banking on smartphone sales in China as one of the catalysts for its growth although it continues to grapple with a probe from the National Development and Reform Commission. Back in February, Qualcomm was accused of overcharging clients because of its market position as well as abusing the market in terms of wireless communication standards.
The unending scrutiny of the company’s operation in China has already prompted the company’s Chairman to meet with the Chinese Prime minister, seen as one of the ways of safeguarding the company’s interest in the country. The regulatory agency is reportedly scrutinizing Qualcomm’s business licenses to see if any one of them has been violated.
Increased Scrutiny on foreign Companies
Business sentiments in China are currently low especially for foreign companies who fear facing the full wrath of the Chinese laws. Despite the unending concerns in China, Jacobs has reiterated that QUALCOMM, Inc. (NASDAQ:QCOM) will continue to pursue its interests in the country both in the fields of healthcare and education technologies. Withdrawing out of China is not an option for Qualcomm because the opportunity for growth remains strong according to the Chairman
Vibrant usage of the 4G LTE networks is another thing that is making Qualcomm stick with its operations in the country considering it is one of the largest chipmakers for the networks. QUALCOMM, Inc. (NASDAQ:QCOM) is not the only company that has been under scrutiny from regulators in China, Microsoft Corporation (NASDAQ:MSFT) has also faced similar challenges its offices having been’ raided in the recent past.
