EU slaps Intel with a whopping €376 million fine over market manipulation

In a bold move, the European Union (EU) Commission has once again wielded its regulatory power, this time hitting US chip giant Intel with a staggering fine of €376,360,000. 

The penalty stems from allegations of market abuse and anti-competitive practices that date back to the early 2000s.

The EU Commission, on announcing this renewed fine, accused Intel of flouting EU antitrust regulations by engaging in practices designed to exclude competitors from the market.

The specific charges relate to Intel’s actions between 2002 and 2006 when the company allegedly made payments to computer manufacturers Hewlett Packard, Acer, and Lenovo. These payments were purportedly intended to delay the release of rival firms’ central processing units (CPUs) and limit their sales channels.

This isn’t Intel’s first run-in with EU regulators. Back in 2009, the company was slapped with a colossal €1.06 billion fine for engaging in activities that stifled competition by offering substantial discounts to computer manufacturers. Intel, determined to defend its stance, launched a legal battle against this penalty.

However, a significant twist in this legal saga occurred last year when the EU General Court, a prominent body within the European Court of Justice, ruled in favor of Intel. The court declared that the Commission’s previous decision to impose a €1.06 billion fine on Intel in 2009 was null and void.

Now, with this latest fine, the EU Commission has signaled its resolve to tackle antitrust violations head-on.

Intel, a dominant player in the chip industry, finds itself once again at the center of an EU antitrust investigation. While the battle continues in the legal arena, the tech world watches closely as this high-stakes clash unfolds.”