Intel cops historic fine
Intel has been slapped with a €376 million EU antitrust fine.
In a case dating back decades, Intel has been hit with a significant antitrust fine of €376 million (AU$621 million) by the European Union (EU).
This penalty stems from actions taken by the US chipmaker between 2002 and 2006.
Last year, the Luxembourg-based General Court, Europe's second highest court, overturned an initial record fine of €1.06 billion (AU$1.75 billion) imposed in 2009.
However, the court upheld the European Commission's assertion that Intel engaged in anti-competitive practices that excluded rivals from the market. Consequently, the EU antitrust watchdog reopened the case.
The 2009 ruling had accused Intel of obstructing rival Advanced Micro Devices (AMD).
On Friday, the EU watchdog confirmed that it had reinstated a fine for actions taken between November 2002 and December 2006 when Intel made payments to HP, Acer, and Lenovo to impede or delay the release of competing products.
“The General Court confirmed that Intel's naked restrictions amounted to an abuse of dominant market position under EU competition rules,” the European Commission said in a statement.
The Commission has appealed the General Court's decision from last year to the EU Court of Justice, Europe's highest court.