EU Set to Fine Samsung Elec, Hynix, others

Nine memory chip makers including Samsung Electronics, Infineon and Hynix Semiconductor are expected to face EU fines this week on charges of illegally fixing prices. This will be the first decision under the European Commission's new settlement procedure introduced in July 2008 in which companies admit taking part in a cartel in return for a 10 percent cut in fines. The other companies set to be fined are Elpida Memory Inc, NEC Electronics Corp, Hitachi Ltd, Toshiba Corp, Mitsubishi Electric and Nanya Technology. Micron Technology received immunity for blowing the whistle on the cartel and will not be fined for its involvement.

Samsung Electronics and Hynix are the world's largest and second-largest memory chip makers respectively. The total fine may be up to 300 million euros ($381 million) and could have been higher without the settlement procedure.

Published Date: May 18, 2010 11:23 am | Updated Date: May 18, 2010 11:23 am