Rocky road ahead for Qualcomm amid multiple probes

Qualcomm Inc shares fell as much as 6.5 percent after the chipmaker said sales and profit in 2015 will be hurt by the fallout from a Chinese government probe and disclosed new regulatory investigations in the United States and Europe.

The company, the largest maker of smartphone chips, said the US Federal Trade Commission and European Commission are conducting inquiries related to its licensing and chip businesses. The probes, announced in a filing on Wednesday, follow a previously disclosed investigation by China's antitrust regulator into Qualcomm's business practices.

Chief Executive Officer Steve Mollenkopf is facing mounting challenges in China, the world's largest wireless market and a region that Qualcomm has been counting on to drive growth. As the Chinese government inquiry continues, some phone makers in the country are prolonging royalty negotiations and refusing to pay the company's required fees for using its technology standard, the part of its business that generates the bulk of its profit.