If a moment ago we were talking about the European Union had imposed the highest fine on Intel for monopolistic practices Now we talk to you about this same topic but to echo the statements issued by Intel at the rate of this fine.
After the fine imposed on Intel by European Union, Intel I decided to issue a statement. In said statement Paul Otellini, Intel CEO and President , said:
«We believe that the decision is incorrect and ignores the reality of the highly competitive market for microprocessors»
On the other hand, it also indicates that
«Consumers were not harmed at any time»
(… Claroooo I love paying more for a product that has no competitors, expect me to go for my wallet to continue paying more …). The statement continues, and in Otellini says they don't believe that the practices of Intel have violated European laws. Their practices are the natural result of a competitive market where there are only two large suppliers (of microprocessors) affirms Otellini.
The CEO commented that they will go ahead and that Intel It does not sell its products below its cost of production, while it does make a strong investment in innovation, in improving manufacturing techniques and technology. So, «We sell our products at a discount in a highly competitive market«.
The fine of 1.06 million euros that the EU applies to Intel for monopolistic practices began to investigate in 2002.