EU Slaps Chip Vendors with Penalties for Price-Fixing

As many as nine major chip vendors were fined a total of 331 million Euros (US $404.2 million) for participating in illegal price-fixing activities, by the European Union authorities. These include Samsung, Hynix, Nanya, Elpida, Infineon, NEC, Toshiba, Hitachi, and Mitsubishi. A 10th company in this price-fixing cartel was Micron Technology, which escaped the fine for exposing the malpractice to the EU authorities. Of these Samsung was given the single biggest fine of 146 million Euros, followed by Infineon at 57 million Euros. The fines were reduced by 10% because all companies extended cooperation in the investigations.