Samsung-Led Cartel Fined $404 Million In Price-Fixing ScandalS

Nine chip makers—including heavy hitters like Samsung and Hitachi—have collectively been fined $404 million by the European Commission over DRAM price fixing. Cartels: they're not just for drug lords anymore.

The price-fixing group operated from July 1, 1998 to June 15, 2002. It was actually a gang of ten until Micron turned stool pigeon eight years ago, leading to the EC's investigation and this week's settlement. Samsung received the lion's share of the penalty at $145.7 million, while Infineon is on the hook for $56.7. The other companies involved were Hynix, Elpida, NEC, Toshiba, Mitsubishi, and Nanya.

It's like the saying goes: first you get the money, then you get the power, then you get the multimillion dollar price fixing fine from the European Union's regulatory body. [ComputerWorld via MaximumPC]