According to the US financial website MarketWatch, Qualcomm said it will file a lawsuit against the EU’s 242 million euro antitrust fine imposed on Qualcomm today.

Earlier today, the European Commission announced a fine of 242 million euros for Qualcomm because Qualcomm used "predatory pricing" between 2009 and 2011 (PredatoryPricing) to set prices below cost to force competitors to withdraw Market) sold its three cellular baseband chipsets to two customers.

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.

DonRosenberg, executive vice president and general counsel of Qualcomm, said in a statement: "The European Commission has spent years investigating our sales to two customers, but each customer said they like it. Qualcomm chips are not because of price, but because the competitor's chipset is 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%.