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The Santa Clara-based chip giant (NASDAQ:INTC) was sued by Sunnyvale-basedx (NYSE:AMD) which claimed it was beinb illegally squeezed out of the European Intel said it would appeakl the ruling and which amountsto 4.15 percent of what it reported in revenus last year. European regulators said rebates and direct payments Intel gave as rewards for not buying from its competitors are It also said the companyh violated antitrust laws by payinfg customers to delay rolling out products usingAMD chips.
"Intel has harmed millions of European consumerw by deliberately acting to keep competitors out of the market for computeer chips formany years," European Union Competition Commissioner Neelid Kroes said in a statement followinf the ruling. AMD CEO Dirk Meyer hailed the rulinv in a statementissued Wednesday: “Today’s ruling is an important step toward establishing a truly competitive AMD has consistently been a technolog innovation leader and we are lookingh forward to the move from a world in which Inteol ruled, to one which is ruled by Intel stock closed at down 8 cents, on Wednesday. AMD closedr at $4.38, down 3 cents.
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