EC Ruling: Statement by Intel President and CEO Paul Otellini
SANTA CLARA, Calif., May 13, 2009 - Paul Otellini, Intel Corporation president and CEO today issued the following statement regarding the European Commission decision on Intel's business practices:
"Intel takes strong exception to this decision. We believe the decision is wrong and ignores the reality of a highly competitive microprocessor marketplace - characterized by constant innovation, improved product performance and lower prices. There has been absolutely zero harm to consumers. Intel will appeal."
"We do not believe our practices violated European law. The natural result of a competitive market with only two major suppliers is that when one company wins sales, the other does not. The Directorate General for Competition of the Commission ignored or refused to obtain significant evidence that contradicts the assertions in this decision. We believe this evidence shows that when companies perform well the market rewards them, when they don't perform the market acts accordingly."
"Intel never sells products below cost. We have however, consistently invested in innovation, in manufacturing and in developing leadership technology. The result is that we can discount our products to compete in a highly competitive marketplace, passing along to consumers everywhere the efficiencies of being the world's leading volume manufacturer of microprocessors."
"Despite our strongly held views, as we go through the appeals process we plan to work with the Commission to ensure we're in compliance with their decision. Finally, there should be no doubt whatsoever that Intel will continue to invest in the products and technologies that provide Europe and the rest of the world the industry's best performing processors at lower prices."
More information about Intel and "Competition in the Innovation Economy" is available at https://www.intel.com/pressroom/legal.
Latest News Posts
- SK Hynix announces GDDR6, offers up to 14Gbps of bandwidth
- Nintendo shows off most downloaded eShop games
- Battlefield 1: Apocalypse DLC details aerial dogfights
- Nintendo Switch sells 1.5 million units last month
- Epic Games doubts the success of their own MOBA Paragon
- ASRock X370 Gaming-ITX/ac Gaming (AMD X370) Motherboard
- LGA1151 Extreme 4 post issue
- NVIDIA's next-gen TITAN X should rock 16GB GDDR6 at 14Gbps
- SuperData Analyst Interview on Call of Duty: WWII Success
- GIGABYTE Z370XP SLI (Intel Z370) Motherboard Review
- Toshiba Memory America Unveils UFS Devices Utilizing 64-Layer, 3D Flash Memory
- ASUS Announces GeForce GTX 1070 Ti Series Gaming Graphics Cards
- ASUS Announces ASUS Hangouts Meet Hardware Kit
- Colorful Announces iGame GeForce GTX 1070 Ti Vulcan X Top
- Gainward Announces its GeForce GTX 1070 Ti Series