Intel begins battle against EU antitrust fine in court
Intel has begun an appeal against its record antitrust fine, calling the evidence against it "profoundly inadequate."
The fine was levied by EU antitrust regulators in 2009, after Intel was found to have engaged in anti-competitive behaviour in order to hinder rival Advanced Micro Devices (AMD) through the use of rebates and contract conditions.
After an eight-year investigation, Intel was fined a record €1.06 billion in 2009 -- more than 4.1 percent of its 2008 turnover. The fine, the biggest levied by the EU against a company, currently stands at $1.34bn due to economic fluctuations.
Immediately after the fine was imposed, Intel CEO Paul Otellini said:
"We believe the decision is wrong and ignores the reality of a highly competitive microprocessor marketplace. There has been absolutely zero harm to consumers. Intel will appeal."
Intel this week began its formal appeal process. As part of the four-day hearing, a panel of five judges at the General Court in Luxembourg -- Europe's second highest court behind the European Union's Court of Justice -- will hear from both the EU and Intel.
Commission lawyer Nicholas Khan reportedly told the panel of judges: