Qualcomm to pay $975 million to settle China antitrust dispute

(Reuters) - Chipmaker Qualcomm Inc said it would pay a fine of $975 million to China's National Development and Reform Commission to resolve a 14-month government investigation into anti-competitive practices.

Reuters reported earlier in the day about the possible settlement, citing a source, who said the chipmaker and the regulator made significant progress during talks last week.

Qualcomm said it would not pursue further legal proceedings contesting NDRC's findings.

(Reporting by Abhirup Roy in Bengaluru; Editing by Joyjeet Das)