China has been seen as a significant threat to Qualcomm’s dominance of its market. The US firm came to a settlement of the antitrust case against it in the country, but at the cost of lower royalty rates and a long fight (now mainly won) to get local companies to sign up for licences. And rivals from Greater China, such as MediaTek, have been eating into Qualcomm’s market share and putting pressure on its prices and margins. However, China is also a major opportunity for a company which remains ahead of the pack in the advanced state of its technologies in key markets. Qualcomm has been steadily offsetting its disadvantages in the country via new partnerships and investments. It has…