Wednesday, June 25, 2014

Philips, Infineon, Samsung face EU antitrust fines

EU regulators are poised to fine Philips, Samsung Electronics Co Ltd and Infineon Technologies AG in the coming weeks for fixing prices of chips used in mobile SIM cards, two people familiar with the case said on Tuesday.

The case started with dawn raids on the companies by the European Commission in October 2008.

The European Union watchdog charged them last year with taking part in a cartel.

The chips are also used in passports, bank cards, identity cards and television systems.

"The companies may be fined in late July or possibly September," said one of the sources, who declined to be named as the EU decision is not yet public.

Officials with the commission, Philips and Infineon declined to comment. Samsung officials were not immediately available for comment. Philips said last year that the EU charges covered the period 2003 to 2004 and involved its semiconductor business which it has since sold.


 read full article at Reuters


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