The Federal Trade Commission settled charges today against Intel. The charges stated that the processor manufacturer illegally tried to cut down competition in the computer chip market. According to the settlement, Intel's past business tactics led to a loss of competition in the market. The FTC hopes to restore the chip market to its previous form, thereby increasing competitive prices.
"This case demonstrates that the FTC is willing to challenge anti-competitive conduct by even the most powerful companies in the fastest-moving industries," said FTC Chairman Jon Leibowitz. "By accepting this settlement, we open the door to competition today and address Intel’s anti-competitive conduct in a way that may not have been available in a final judgment years from now. Everyone, including Intel, gets a greater degree of certainty about the rules of the road going forward, which allows all the companies in this dynamic industry to move ahead and build better, more innovative products."
What does this settlement mean? Well, according to The Street, we could see lower chip prices as a result of the competitive chip market once again emerging. However, only time will tell.
You can read more about this settlement on the Federal Trade Commission website.
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