Intel Fined $1.45 Billion
Ouch! In these tough economic times, that is a seriously large amount of money! Wow. They have appealed the decision, but this process is still costing them dearly. Take a look at the article below that I grabbed from the New York Times.
Here is an extract from the article which might help you understand things:
The European Union’s competition commissioner, Neelie Kroes, said the penalty against Intel, the equivalent of $1.45 billion, was justified because the company had skewed competition and denied consumers a choice for chips.
Ms. Kroes said Intel had “used illegal anticompetitive practices to exclude its only competitor and reduce consumers’ choice — and the whole story is about consumers.” She said Intel’s practices had “undermined innovation.”
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