Philips, Samsung and Infineon receive a €138 million fine from the EU

Philips, Samsung and Infineon have been fined a total of 138 million euros by the European Commission. The companies are said to have made prohibited price agreements with regard to the market for chips that are used in, among other things, SIM cards.

In 2008, the European regulator started an investigation into chip manufacturers. This showed that Philips, Samsung, Infineon and Renesas have mutually agreed on price for smart card chips that are used in, among other things, SIM cards and bank cards. The prohibited trade practices allegedly took place between September 2003 and September 2005, according to the European Commission.

Infineon has to pay the highest fine with an amount of 82.8 million euros. Philips and Samsung have been ordered to pay 20.14 and 35.12 million euros respectively. Renesas, a joint venture of Hitachi and Mitsubishi, does not have to pay anything because the company knocked on the door of the EU about the abuses. Samsung received a ‘discount’ of 30 percent on the fine because the company would have cooperated well with the investigation.

Philips, which no longer produces smart card chips, has indicated that it will appeal. The electronics company denies the allegations against him.