Well, this was on the cards but no one imagined the European Commission will impose such a heavy fine. Intel has been fined 1.06 billion euros or 1.45 billion US dollars because of business tactics used by them to crush the competition. The fine in fact, is the highest ever imposed by the EC and is more than double what they charged Microsoft back in 2004.
The verdict has not gone well in Santa Clara which is why Intel’s CEO has issued a statement and confirmed that they’ll appeal the decision.
“Intel takes strong exception to this decision. We believe the decision is wrong and ignores the reality of a highly competitive microprocessor marketplace – characterized by constant innovation, improved product performance and lower prices. There has been absolutely zero harm to consumers. Intel will appeal.” [Full statement here]
On the other hand, AMD seemed happy about it and called Intel “an abusive monopolist.”
“[It] will shift the power from an abusive monopolist to computer makers, retailers and above all PC consumers,” said Giuliano Meroni, president of AMD’s European unit.
[Via Bloomberg]
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