HANGZHOU, China--Chinese Premier Li Keqiang on Thursday played
down Qualcomm Inc.'s problems in the country by saying the U.S.
chip maker will find opportunities, in the highest-level Chinese
comments to date about the company, which is facing an antimonopoly
probe in China.
Mr. Li told a meeting of Chinese and foreign technology
executives as well as government officials that Qualcomm had
previously supported China's efforts to development its own
telecommunications technology. "I believe the opportunities for
Qualcomm will be greater than the challenges," he said.
Mr. Li's comments followed remarks by Qualcomm Chief Executive
Paul Jacobs, who said the company "was going through some difficult
discussions, but Qualcomm will continue to cooperate."
After the meeting, Mr. Jacobs told The Wall Street Journal that
he was happy to hear the premier's words about cooperation.
The probe into Qualcomm is being conducted by China's National
Development and Reform Commission, which oversees enforcement of
the pricing aspects of the antimonopoly law. Qualcomm has said it
is cooperating.
Mr. Li's comments about Qualcomm follow remarks in September by
Lu Wei, China's top Internet regulator, who cited China as the
source of about half the company's revenue and said "we should make
money together."
Write to James T. Areddy at james.areddy@wsj.com
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