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

Illustration for article titled Samsung-Led Cartel Fined $404 Million In Price-Fixing Scandal

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.

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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]

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DISCUSSION

norwoodismyhero
NorwoodIsMyHero

"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"

This is why price fixing is normally a bad idea when you have to involve multiple parties in it illicitly. Someone always cheats for their own good/survival.