The European Commission has slapped a massive $1.45 billion fine on chip giant Intel for engaging in anti-competitive practices that harm consumers.
Competition Commissioner Neelie Kroes said Wednesday:
Intel has harmed millions of European consumers by deliberately acting to keep competitors out of the market for computer chips for many years. Such a serious and sustained violation of the EU’s antitrust rules cannot be tolerated.
Serial Rapist
In plain language, Intel can be considered a serial rapist for repeatedly harming consumers by its illegal, anti-competitive actions that ultimately lead to higher PC prices.
In 2008, the Korea Fair Trade Commission imposed a $25.4 million fine for abusive practices that led to higher PC prices for South Korean customers.
Three years earlier, the Japan Fair Trade Commission said Intel violated the country’s anti-competitive laws through illegal deals with five Japanese PC manufacturers.
In the U.S., the Federal Trade Commission and New York Attorney General’s Office are investigating Intel for alleged abuse of its monopoly position.
Violates EC Rules
Imposing the mega-fine, the EC said Intel violated EC Treaty antitrust Continue Reading…