China has approved Microsoft Inc.’s acquisition of Nokia Corp.’s devices and services business subject to certain conditions, the official Xinhua News Agency reported Wednesday, citing a Ministry of Commerce statement on its website.
In March, Nokia and Microsoft submitted their final proposals to reduce the deal’s potential threat to market competition, according to the statement.
The case was one of the most complicated since China’s anti-monopoly law came into effect in 2008 as 75 percent of the world’s handsets are made in China, and China accounts for 34 percent of the global smartphone market, Shang Ming, head of the ministry’s anti-monopoly bureau, was quoted as saying.
If Microsoft raised the licensing fees for its patents, China’s handset makers would have to exit the market or transfer part or all of the extra costs to smartphone consumers, Shang explained.
He also warned that regulators would launch investigations if any abuse of dominant position or other anti-competitive acts are found in the future, the report said.
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