EU fines Samsung, others more than 331 million

By on
As expected, the European Union has fined nine semiconductor manufacturers today over price fixing, with penalties totaling more than 331 million. Samsung faces the largest fee of 145.7 million, while Infineon received the second highest at 56.7 million.

Those sums could have been much higher. The Commission reduced Samsung's fine by about 20% and around 50% for Infineon after settlement arrangements, under which the companies agree not to appeal the EU's ruling, according to the NY Times. Others hit by the suit include Hitachi, Mitsubishi, NEC, Toshiba, Elpida, Hynix, and Nanya most if not all of which were granted a 10% reduction in penalties.

Micron was involved in the cartel, but received immunity for blowing the whistle. Between July 1, 1998 and June 15, 2002, the companies shared "secret information, mostly on a bilateral basis, through which they coordinated the price levels and quotations for DRAMs," said regulators.

Add New Comment

TechSpot Members
Login or sign up for free,
it takes about 30 seconds.
You may also...
Get complete access to the TechSpot community. Join thousands of technology enthusiasts that contribute and share knowledge in our forum. Get a private inbox, upload your own photo gallery and more.