Nine memory chip makers including Samsung Electronics, Infineon and Hynix Semiconductor are expected to face EU fines this week on charges of illegally fixing prices, two people familiar with the situation said on Monday.This will be the first decision under the European Commission's new settlement procedure introduced in July 2008 in which companies admit taking part in a cartel in return for a 10 percent cut in fines.The other companies set to be fined are Elpida Memory Inc, NEC Electronics Corp, Hitachi Ltd, Toshiba Corp, Mitsubishi Electric and Nanya Technology.Micron Technology received immunity for blowing the whistle on the cartel and will not be fined for its involvement, one of the two people said. This was confirmed by another source with direct knowledge of the matter.Samsung Electronics and Hynix are the world's largest and second-largest memory chip makers respectively."A decision on fines is expected on Wednesday," one of the sources said.They said the total fine may be up to 300 million euros ($381 million) and could have been higher without the settlement procedure.The Commission, the EU antitrust watchdog, has championed the new procedure as a more effective method to deter violations and a speedier decision-making process.The EU executive can fine companies up to 10 percent of their global turnover for breaking EU laws.Infineon said last December the Commission had opened formal proceedings against it on suspicion of anti-competitive behaviour in the European market for DRAM chips, used in personal computers, printers, mobile phones and game consoles.South Korean regulators in 2007 dropped an investigation into suspected price-fixing by Samsung Electronics, Micron, Hynix and Infineon.(Reporting by Foo Yun Chee, editing by Dale Hudson)News posted by www.newsinfoline.com
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