In response, Qualcomm subsequently stated that it would appeal to the EU Intermediate Court “General Court”. Qualcomm will provide financial guarantees in lieu of paying fines during the pending appeal.
Don Rosenberg (Don Rosenberg), Qualcomm's executive vice president and general adviser, said in a statement: "the European Commission has spent years investigating our sales to two customers, but each customer says they prefer Qualcomm chips not because of prices, but because competitors' chipsets are technically poor."
In today's pre-market trading, Qualcomm shares fell 1.1%. But this year, Qualcomm's share price has risen by 33%. In contrast, the Standard & Poor's 500 index rose 19%.