EU fines Intel $1.45 billion

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BRUSSELS: The European Union on Wednesday fined Intel Corp. a record euro1.06 billion ($1.45 billion), saying the world’s biggest computer chip maker used illegal sales tactics to shut out smaller rival AMD. The fine exceeded a euro 899 million monopoly abuse penalty for Microsoft Corp. last year. Intel called the decision “wrong” and said it would appeal. Intel, based in Santa Clara, California, has about 80 per cent of the world’s personal computer microprocessor market — and faces just one real rival, Advanced Micro Devices. The European Commission says Intel broke EU competition law by exploiting its dominant position with a deliberate strategy to keep AMD out of the market that limited customer choice.

Company to appeal Intel President and CEO Paul Otellini said the company would appeal to the EU courts because “the decision is wrong” and “there has been absolutely zero harm to consumers.”

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