10:49 AM EDT, 09/18/2024 (MT Newswires) -- (Updates with Qualcomm's ( QCOM ) response in the fifth and sixth paragraphs.)

Qualcomm's ( QCOM ) fine over predatory pricing and abuse of its dominant position in the market has been largely upheld by the General Court, the Court of Justice of the European Union said Wednesday.

The General Court has set the fine at about 238.7 million euros ($265.9 million), compared with about 242 million euros imposed by the Commission previously.

This comes after Qualcomm ( QCOM ) requested the Court to annul or substantially reduce the imposed fine by raising 15 pleas in law.

The Court rejected all the company's pleas except for a plea regarding the calculation of the fine which led to a small reduction.

The company rejected the decision.

"Qualcomm ( QCOM ) respectfully disagrees with the judgment and the Commission's decision and believes that we have always remained in compliance with European competition law," a company spokesperson told MT Newswires.

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