European regulators slapped Intel Corp. (INTC, Fortune 500, the world's largest chipmaker) with a record fine of $1.45 billion after a nearly eight-year long antitrust case.As per European Commission, Intel violated the European anti-trust laws by following the unethical business practices to keep the competitor AMD out of business.
I would welcome such a judgement which ensures a check on the business giants not to run monopolies and at the same time not to play unethical tactics with the competitors. This would impact the end customer in a big way. Not just IT industry but rather we should have a good and powerful governing body which should act on such cases where in the customer is made to suffer because of the foul plays. Not just fine, we should also impose the ban of the business in that region for some time so that next time no other business house will even think of getting that way.
I m happy with EC on their judgement and at the same time sad that it took almost 8 years for the comission to give the ruling. We should expedite all such cases and show the business world that unfair means to achieve business will land them in trouble.
Having said this, ruling or fines will not just stop these actions, there have to be a proper and stringent Audits and compliance checks.
However, this ruling comes as boon for all the business houses who want to ensure a fair play in the market.
EC proves - Irrespective of competiton, Customer is the King.
Intel Considers 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 plans for appeal...
ReplyDeleteWell Mohammed, irrespective of the appeal, i would say the consumer rights come first. no company has the right to cause trouble to the customers in the name of competitions.
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