US-based chipset maker Qualcomm announced its settlement with the Taiwan Fair Trade Commission (TFTC).

The settlement resolves TFTC’s investigation of Qualcomm’s business practices with phone makers and Qualcomm’s litigation challenging the TFTC’s decision alleging violations of Taiwan’s Fair Trade Act.

Qualcomm has agreed to certain process-related commitments in the negotiation of deals with handset licensees to Qualcomm’s cellular standard essential patents (SEPs). The resolution does not require component-level licensing or set specific financial terms.

TFTC will retain the NTD 2.73 billion or $93 million Qualcomm paid towards the monetary fine through the end of July.

Qualcomm will drive certain commercial initiatives in Taiwan over the next five years for the benefit of the mobile and semiconductor ecosystem, SMEs and consumers.

Qualcomm will work with the TFTC and sister agencies within the Taiwanese government to implement these initiatives and investments.

“This settlement addresses concerns raised by the TFTC, regardless of disputed positions, and builds on our foundation of collaborative, long-term business relationships in Taiwan,” Alex Rogers, executive vice president and president, Qualcomm Technology Licensing, said.