EU fines Samsung, others more than 331 million

By on May 19, 2010, 2:57 PM
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.

User Comments: 9

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Gars Gars said:

thats some sort of win for the users like me and you

ofc, its small

we cant deal with the big gigants

im in EU

im very distracted how is dealing with piracy and how its dealing with corp. shit

very efective - spain, france - they closed all the sh!t

im a pirate atm, so, buying some 2Tbs and backup "sensitive" hehe

TomSea - dont be angry when you reach my sellary for your work - call me($1,1/h

then start talking about piracy

could you?

tengeta tengeta said:

You can say its teaching them a lesson, but in reality its just mob style payments that ensure they can get away with what they do in The EU as long as they pay up.

DarkCobra DarkCobra said:

I'm sure TomSea will respond . . . that is if he can figure out what the hell you're talking about. Beats me!

Guest said:

that 330mil ain't going to the consumer just another government tax

LightHeart said:

It sounds like the EU is a profit (or tax) center via litigation of all companies that do business within the EU. Or running a protection racket.

gobbybobby said:

The Eu protect consumers, Price fixing is not good practise and I am glad they sort it out, dishing out fines to the companys.

TorturedChaos, TechSpot Chancellor, said:

Normally I say the EU takes things to far, and is way over zealous. But in this case I feel they were actually protecting the consumers, for once.

But I do have to wonder whats going to happen to that ?331 million?

Chazz said:

I thought I just read an article about ram finally turning profit after years. I'm fine with the collaboration of companies to actually turn a profit. I'll find it to be a problem if the prices continue to go up. I could be wrong, but i thought I read that article on techspot.

delinwales said:

EU Fines

Just how do you think that Samsung and all the others will replace the money that the EU have taken from them? For those slower members, may I suggest it will be from raised prices. The EU is a pain in the butt, take my word for it, I live there. They interfere with everything without knowing or understanding anything at all about the subject. On top of which, the EU and all its commissioners, staff and hangers on, cost a fortune, all paid for by the poor taxpayer.

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