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Qualcomm to appeal European Commission finding on decade-old chip shipments and 242 million euros fine

Ciara Linnane

Qualcomm Inc. said Thursday it is planning to appeal at European Commission finding that it engaged in predatory pricing practices for sales of three cellular baseband chipsets to two customers during certain calendar quarters between 2009 and 2011. The commission fined the chip company 242 million euros ($271 million). Qualcomm plans to appeal the finding to the General Court of the European Union, and will offer a financial guarantee in lieu of paying the fine while the appeal is pending. "The Commission spent years investigating sales to two customers, each of whom said that they favored Qualcomm chips not because of price but because rival chipsets were technologically inferior,' the company's general counsel Don Rosenberg said in a statement. Qualcomm shares fell 1.1% in premarket trade, but have gained 33% in 2019, while the S&P 500 has gained 19%.