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Last Updated: Wednesday, 7 February 2007, 10:40 GMT
Samsung settles price-fixing case
Workers on the Samsung semiconductor production line
Microchip production is a highly competitive industry
Samsung Electronics has agreed to pay $90m (46m) to settle legal action over microchip price-fixing allegations.

It must also co-operate in suits against other microchip manufacturers.

The South Korean company faced claims customers had been forced to overpay for equipment containing its dynamic random access memory (DRAM) chips.

The actions alleged that Samsung and other chip makers exchanged price and other information with each other for four years ending in 2002.

Individual customers, as well as state and local governments had brought the action.

The states are still pursuing claims against other companies including Elpida Memory, Infineon Technologies, Hynix Semiconductor and Micron Technology.

$80m (41m) of the settlement will go to consumers nationwide while $10m will be shared by states and local government.

The action by the individual states followed a federal case brought by the US government that led to a total of $730m in fines from four companies.




SEE ALSO
Samsung men 'admit' price fixing
22 Mar 06 |  Business
Memory chips hit Samsung profits
12 Jan 07 |  Business
Samsung eyes 80% rise in TV sales
08 Jan 07 |  Business

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