Intel to appeal EC fine
Intel will appeal against the EC's decision to fine it £1billion for breaching competition rules.
Paul Otellini, Intel's president and ceo, pictured, said: "Intel takes strong exception to this decision. We believe the decision is wrong and ignores the reality of a highly competitive microprocessor marketplace – characterised by constant innovation, improved product performance and lower prices. There has been absolutely zero harm to consumers. Intel will appeal."
Otellini added that Intel believes its practices have not violated European law. "The natural result of a competitive market with only two major suppliers is that when one company wins sales, the other does not. The Directorate General for Competition of the Commission ignored or refused to obtain significant evidence that contradicts the assertions in this decision. We believe this evidence shows that, when companies perform well the market rewards them, when they don't perform, the market acts accordingly."
Nevertheless, Intel plans to work with the EC to ensure it complies with the decision.
