Wednesday, May 19, 2010
Memory chip makers, including Samsung, Hynix and Infineon whose subsidiary Qimonda is now defunct, are expected to be fined by the European Union on Wednesday (May 19) for illegally fixing memory chip prices, according to reports.
The reports cited un-named officials with knowledge of a European Commission investigation into price-fixing.
The total fine is expected to be about 300 million euros (about $370 million), although it is expected that many of those accused will have accepted the European Commission's proposed fine in return for a 10 percent discount, the reports said.
The other companies set to be fined are Elpida Memory Inc., NEC Electronics Corp., Hitachi Ltd., Toshiba Corp., Mitsubishi Electric and Nanya Technology. Micron is set to be exempt from a fine in return for being first to reveal details about the cartel, Reuters said.
By: DocMemory
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