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Last Updated: Thursday, 21 April, 2005, 19:26 GMT 20:26 UK
Hynix fined over US price fixing
Chips
Price fixing of computer chips affected a large number of US firms
South Korean chipmaker Hynix Semiconductor Inc. has agreed to plead guilty to price fixing and is facing a $185m (97m) 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 (84m) 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.




SEE ALSO:
Hynix 'to invest $800m in China'
16 Mar 04 |  Business
Hynix returns to the black
22 Oct 03 |  Business
Weak chip prices hit Hynix
13 Aug 03 |  Business
Rescue plan for chip giant Hynix
30 Dec 02 |  Business
US steps up Asian trade wars
24 Jul 03 |  Business
Hynix rescue plan gets the nod
25 Feb 03 |  Business


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