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EU to fine nine memory chip makers for price fixing

Posted on Tuesday, May 18 2010 @ 12:42:42 CEST by

NY Times reports the EU is expected to fine nine memory chip makers this week on charges of price fixing. Companies set to be fined are Samsung, Infineon, Hynix, Elpida, NEC, Hitachi, Toshiba, Mitsubishi and Nanya. Micron was also involved in the scheme, but according to the report this firm received immunity for blowing the whistle on the cartel.
European Union regulators are expected to fine nine makers of memory chips, including Samsung Electronics, Infineon and Hynix Semiconductor, this week on charges of illegally fixing prices.

Three people with direct knowledge of the matter said the fines would be the first case under the European Commission’s new settlement procedure introduced in July 2008 in which companies acknowledge taking part in a cartel in return for a 10 percent reduction in fines.

Other companies set to be fined are Elpida Memory, NEC Electronics, Hitachi, Toshiba, Mitsubishi Electric and Nanya Technology.



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