Samsung and Eight Other Chip Makers Fined $404 Million for Price Fixing
Samsung and Eight Other Chip Makers Fined $404 Million for Price Fixing
Posted 05/21/2010 at 4:52am
| by Paul Lilly
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Following an extensive investigation into alleged price fixing violations, the European Commission found nine memory makers guilty of wrongdoing and fined them a collective $404 million.
The companies involved include Samsung, Infineon, Hynix, Elpida, NEC, Hitachi, Toshiba, Mitsubishi, and Nanya, all of which submitted settlements admitting their liability for infringement, according to reports. Micron would also have been included, but ultimately was not fined since it told the Commission about the cartel as far back as 2002.
"You may think that to use the word 'settlement' next to the word 'cartel' sounds quite strange," Almunia said. "So let me explain right away that we are not compromising on cartels, with or without a settlement. A cartel is the worst violation of competition rules since its object is to collude against the interests of other companies and of consumers."
Samsung received the biggest fine at $145.7 million, with Infineon receiving the second largest fine at $56.7 million. The cartel is said to have operated from July 1, 1998 and June 15, 2002.
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fusobotic
May 22, 2010 at 5:39am
Will I be able to get 4gb of ddr2 800 at $40 again? It's outrageous what they charge these days.
AirPower4ever
May 21, 2010 at 3:25pm
I agree, put one in jail and this most certainly will have a trickle affect. The consumer works hard for our money and when we spend it, it seems it never lasts or is overpriced.
In this case, over-priced. I was wondering, history shows us as things get older, they become cheaper in price. I found it strange that the triple channel memory I bought 2 years ago at $84.00 is now $140.00. Hmmmm.
I agree with the posts, lower the prices ASAP so we the consumer can benefit first. That's how you'll open my wallet, better pricing!!!!!
Everything changes but change itself
Jox
May 21, 2010 at 2:35pm
I've said it before, but apparently it needs saying again. To hell with fines. Put ONE CEO in prison for life and this will never happen again.
-Jox
violian
May 21, 2010 at 11:14am
Yeah, I see your point - the money that consumers "overpaid" as a result of the "cartel" won't be reimbursed back to the consumers. If anything, the cartel should then sue the Euro Comission because as a result of the higher memory prices, and that the Euro Commission ruled that it was illegal, then in a sense, the cartels overpaid taxes correct? So the Euro-states had been receiving more taxes than they should have. I work in finance, so this is just my thought.
In the end, the paid-fines will just go back to the Euro-states, dispursed appropriately, and then maybe some going into the pockets of politicians.
Xylogeist
May 21, 2010 at 7:26am
Seriously... how did everyone miss the obvious joke in this?
404, money not found. Please try your query again.
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