China Internet Regulator to Qualcomm: 'We Should Make Money Together'

China's top Internet regulator publicly challenged the president of Qualcomm, saying half the company's revenue comes from China and that "we should make money together."

The comments from Lu Wei, China's minister of cyberspace affairs, come amid an investigation into the US chip maker by Chinese antimonopoly officials. Qualcomm has said it is cooperating. Chinese customers accounted for 49% of the $24.87 billion in revenue that Qualcomm reported for the fiscal year ended Sept. 29, according to the company. Qualcomm makes processors and wireless modem chips used in smartphones. Much of the company's profit comes from charging patent royalties to handset makers. 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.