Bruce Sewell, Intel’s general counsel, addresses the media at a hotel in Brussels Wednesday after the European Union fined the chip giant a record $1.5 billion for monopoly abuse.
Official: Chip giant ‘harmed’ consumers by breaking competition law
BRUSSELS - Intel Corp. was fined a record $1.45 billion by the European Union on Wednesday for using strong-arm sales tactics in the computer chip market — a penalty that could turn up the pressure on U.S. regulators to go after the company, too.
The fine against the world’s biggest chip maker represents a huge victory for Intel’s Silicon Valley rival, Advanced Micro Devices Inc., or AMD, the No. 2 supplier of microprocessors to PC makers.
AMD has sued Intel and lobbied regulators around the world for the past five years, complaining that Intel was penalizing PC makers in the U.S. and abroad for doing business with AMD. More Story continues here
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