US chip maker Qualcomm (QCOM.NASDAQ, QCI.FRA) said it is being investigated by the Chinese government for antimonopoly issues, The Wall Street Journal reported. The disclosure follows comments by Qualcomm’s chief executive acknowledging that US restrictions on Chinese companies and revelations about surveillance by the National Security Agency are affecting its business in China. Qualcomm’s announcement comes amid growing security tensions between the two superpowers and as China uses its five-year-old antimonopoly law to push down prices in a variety of industries ranging from cars to baby formula.
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