Intel doesn't accept 1.44 billion Dollar sentence
As expected, Intel appeals the decision of the European Commission that sentenced the company to pay a fine of 1.44 billion US Dollars.
Recently Intel has been fined by the European Commission for the violation of antitrust regulations. The chip producer has to pay 1.44 billion US Dollars (1.06 billion Euros). But as it has been expected Intel does not accept the fine and appeals the sentence of the European Commission. Paul Otellini, Intel CEO, has released a statement giving Intel's point of view on the decision.
"Intel takes strong exception to this decision. We believe the decision is wrong and ignores the reality of a highly competitive microprocessor marketplace - characterized by constant innovation, improved product performance and lower prices. There has been absolutely zero harm to consumers. Intel will appeal."
"We do not believe our practices 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."
"Intel never sells products below cost. We have however, consistently invested in innovation, in manufacturing and in developing leadership technology. The result is that we can discount our products to compete in a highly competitive marketplace, passing along to consumers everywhere the efficiencies of being the world's leading volume manufacturer of microprocessors."
"Despite our strongly held views, as we go through the appeals process we plan to work with the Commission to ensure we're in compliance with their decision. Finally, there should be no doubt whatsoever that Intel will continue to invest in the products and technologies that provide Europe and the rest of the world the industry's best performing processors at lower prices."
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