The European Commission has reimposed a €376.4 million (about US$400 million) fine on Intel Corporation (NASDAQ:INTC) for violating anti-competitive rules in the computer chip market.
The fine was reinstated following the partial annulment of a larger fine of €1.06 billion (US$1.13 billion) first issued in 2009 over allegations the company used its dominant position in the x86 microprocessors market to exclude rivals by using rebates and sales restrictions.
This included paying PC manufacturers and retailers to delay, cancel, or not sell products containing its rival AMD’s x86 chips.
The original decision was annulled last year by the European Union’s General Court; however, it confirmed the sales restrictions constituted an abuse of Intel’s dominant market position leaving the Commission to determine the size of the new penalty.
“The lower fine imposed by today’s decision reflects the narrower scope of the infringement compared to the 2009 Commission decision,” it said in a statement, as reported by the Associated Press.
Intel shares traded down 1.1% at US$34.28 shortly after the opening bell in New York on Friday.
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