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Company: Hynix Semiconductor Inc

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Hynix fined over US price fixing

Date Class
21st Apr 2005 Other Issue
 
Details
South Korean chipmaker Hynix Semiconductor Inc. has agreed to plead guilty to price fixing and is facing a $185m (142m) fine in the US.

In a plea filed in San Francisco, Hynix admitted conspiring with other companies to fix prices of popular computer memory products.

The fine is the third largest imposed in a criminal case by the Justice Department's antitrust division.

Hynix acknowledged that it fixed prices between April 1999 and June 2002.

This is the second admission by a computer chips firm during a price-faxing probe that began in 2002.

Infineon Technologies AG of Germany agreed to pay a $160m (122.5m) fine back in September.

The main victims of price fixing have been computer giants such as Dell, Hewlett-Packard, IBM and Gateway which use Hynix's products in PCs, printers, mobile phones and many other electronic platforms.

The US market for these products was worth $7.7bn last year.

 

 

 


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