Samsung accepts EU findings on chip price cartel

SEOUL, S.KOREA: Samsung Electronics, the world's largest memory chipmaker, said on Wednesday it would accept the findings of the EU Commission and was committed to conducting its operations in full compliance.

EU regulators said they had fined nine memory chipmakers including Samsung a total of 331 million euros for illegal chip price fixing.

"Samsung has been notified that...145.7 million euros of fine was levied on Samsung...Samsung accepts the findings of the Commission's inquiry and is committed to conducting its business operations in full compliance," Samsung said in a statement.

Its local rival, which was also fined, said the company had set aside provisions to cover the amount and the decision would have no financial impact.