Intel Hit With Record 1 Billion Euro Fine

The European Commission imposed a record 1.06 billion euros ($1.45 billion) fine on chipmaker Intel Corp on Wednesday and ordered it halt illegal rebates and other practices to squeeze out rival AMD.

"Intel has harmed millions of European consumers by deliberately acting to keep competitors out of the market for computer chips for many years," European Union Competition Commissioner Neelie Kroes said in a statement. The EU executive said Intel paid computer makers to postpone or cancel plans to launch products that used AMD chips, paid illegal, secret rebates so computer makers would use mostly or entirely Intel chips, and paid a major retailer to stock only computers with its chips. It ordered Intel "cease the illegal practices immediately to the extent that they are still ongoing." Intel may continue to offer rebates, so long as they are legal, the Commission said.

source: Technology News