EC Fines Intel $1.45 Billion for "Anticompetitive Practices"

The European Commission fined Intel a record €1.06 billion, or $1.45 billion, for abusing its dominance in the computer chip market to exclude its only serious rival, Advanced Micro Devices. The E.U. competition commissioner, Neelie Kroes, said the penalty against Intel, the world's largest chip maker, was justified because the company had skewed competition and denied consumers a choice for chips.