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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
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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