EU hits Intel with record $1.45b fine

The European Commission fined Intel Corp a record 1.06 billion euros ($1.45 billion) yesterday and ordered it to halt illegal rebates and other practices used to squeeze out rival AMD.

"Given that Intel has harmed millions of European consumers by deliberately acting to keep competitors out of the market for over five years, the size of the fine should come as no surprise," European Union Competition Commissioner Neelie Kroes told a news briefing.

The EU executive said Intel paid computer makers to postpone or cancel plans to launch products that used AMD chips, paid illegal, secret rebates so computer makers would use mostly or entirely Intel chips, and paid a major retailer to stock only computers with its chips.