News Article
Hynix fined US$185 million in price fixing case
South Korean memory maker Hynix has agreed to pay out US$185 million in damages after admitting its involvement in an international plot to fix the price of DRAM memory chips.
South Korean memory maker Hynix has agreed to pay out US$185 million in damages after admitting its involvement in an international plot to fix the price of DRAM memory chips.
The company is the second memory maker to be fined millions of dollars as part of a US justice department investigation into the memory market. German chip maker Infineon agreed to pay US$160 million in 2004.
And Samsung – the worlds largest memory manufacturer – set aside US$100 million last year to cover any fines it might suffer as a consequence of the investigation.
Hynixs fine is the third largest the US has ever imposed in an antitrust investigation. This show how seriously the US is taking the case, said US attorney-general Alberto Gonzales. "High tech price-fixing cartels will not be tolerated."
According to the US justice department, the price fixing cartel in which Hynix and Infineon are implicated operated from 1999 to 2002. Companies would discuss prices before providing quotations to customers.
The company is the second memory maker to be fined millions of dollars as part of a US justice department investigation into the memory market. German chip maker Infineon agreed to pay US$160 million in 2004.
And Samsung – the worlds largest memory manufacturer – set aside US$100 million last year to cover any fines it might suffer as a consequence of the investigation.
Hynixs fine is the third largest the US has ever imposed in an antitrust investigation. This show how seriously the US is taking the case, said US attorney-general Alberto Gonzales. "High tech price-fixing cartels will not be tolerated."
According to the US justice department, the price fixing cartel in which Hynix and Infineon are implicated operated from 1999 to 2002. Companies would discuss prices before providing quotations to customers.
