Samsung fined $300 million for fixing memory prices

Peter Rojas
P. Rojas|10.13.05

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Peter Rojas
October 13th, 2005
Samsung fined $300 million for fixing memory prices image
Samsung fined $300 million for fixing memory prices image
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Some majorly bad news for Samsung: the company, along with its US subsidiary Samsung Semiconductor, has agreed to pay a massive $300 million fine after being charged with price fixing by the Justice Department. Turns out that over the course of several years the company, along with several other memory chip suppliers, had conspired to fix the prices and gouge PC manufacturers like Dell, HP, Apple, IBM, and Gateway.

P.S. - Note that this is actually a totally different case than the one they're potentially facing in South Korea over the memory modules they supplied Apple for use in the iPod nano, but proof of bad behavior like this probably isn't going to dissuade the Korean FTC from launching their investigation.

[Thanks, CoreyTheGent]

UPDATE: The AP has updated their story (for the fourth time, apparently) to clarify that this covers just DRAM, not other kinds of memory.

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