Just after the 1.06 billion euros fine was handed down to Intel Corporation for illegally excluding competitors from the computer chip market, Intel’s CEO and president, Paul Otellini, has hit back claiming the decision was wrong and they will definitely be appealing the decision.

“Intel takes strong exception to this decision. We believe the decision is wrong and ignores the reality of a highly competitive microprocessor marketplace – characterised by constant innovation, improved product performance and lower prices. There has been absolutely zero harm to consumers, Intel will appeal,” he said.

Otellini commented that 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 the market acts accordingly,” he said.

“The natural result of a competitive market with only two major suppliers is that when one company wins sales, the other does not.”

Otellini emphasised that Intel never sells products below cost; rather the company invests in innovation, manufacturing and 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 Intel’s strong opposition to the decision handed down, Otellini expressed that the company will work with the commission throughout the appeals process to ensure it is in compliance with the decision.

“There is 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.”