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EU: Leading chipmakers suspected of forming cartel

By  |  April 22, 2013

Some of the world’s leading makers of smart card chips are currently being investigated by the European Commission as the regulator looks into the possible formation of a cartel. The companies, which include Royal Philips Electronics NV, Infineon Technologies and Samsung Electronics Co., have been sent objections by the Commission over concerns the companies fixed prices of chips used in SIM cards manufactured for mobile phones, bank cards and passports. The companies could possible face a fine of 10 percent of their total global revenue if found guilty of the violations. According to reports, the Commission carried out dawn raids on the companies in 2009. According to Commissioner Juaquin Almunia, a settlement would provide a more efficient solution, though he noted that the authority “will not hesitate” to pursue penalties if necessary.

Full Content: Chicago Tribune

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