Intel has been hit with record fines by the European Commission for anti-competitive practices.

The chipmaker has been fined 1.06 billion euros, around £950 million, for bribing companies to use its products over those of rival AMD.

Between 2002 and 2007, the Commission said Acer, Dell, HP, Lenovo and NEC were given "hidden rebates" for putting Intel inside.

"Intel has harmed millions of European consumers by deliberately acting to keep competitors out of the market for computer chips for many years", said Competition Commissioner Neelie Kroes.

"Such a serious and sustained violation of the EU's antitrust rules cannot be tolerated".

Intel has got in touch with Pocket-lint with a statement from the company's president and CEO Paul Otellini.

"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".