The colossal €1.06 billion fine, set by the European Commission, far outweighs the €497million imposed on Microsoft in 2004 for simlar monopoly charges.
Intel, the world's largest manufacturer of computer microprocessors, have been hit with a record €1.06billion (£948m/ $1.45bn) fine after the European Commission found them guilty of anti-competitive practices.
The California based company are alleged to have given leading computer manufacturers - such as Acer, Dell, HP and NEC – hidden rebates if they agreed only to use microprocessors provided by Intel in their computer products.
Intel were also found to have paid Media Saturn, the parent company of leading European electronics retailer Media Markt, to postpone or cancel products fitted with chips produced by their leading competitor, AMD (Advanced Micro Devices) and, as such, to only sell computers containing Intel microprocessors.
AMD, who currently hold a 12% share of the microprocessor market, have lodged a number of complaints about the brand’s questionable businesses practices over the years. Unsurprisingly, they have today welcomed the news of Intel’s fine.
"The EU decision will shift the power from an abusive monopolist to computer makers, retailers and above all PC consumers," said AMD's European president, Giuliano Meroni.
The Intel brand is currently valued at a staggering £85.4billion, and last year were found to hold a colossal 80.5% share of the computer chip market.
Intel’s chief executive Paul Otellini has confirmed plans to appeal the decision: "Intel takes exception to this decision. We believe the decision is wrong and ignores the reality of a highly competitive microprocessor market,
"There has been absolutely zero harm to consumers. Intel will appeal."
