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Samsung Exec To Plead Guilty To Price-Fixing

An executive with the U.S. unit of South Korea's Samsung Electronics agreed to plead guilty and serve prison time for taking part in price-fixing in the computer memory chip business, the U.S. Justice Department said on Thursday.

Samsung marketing executive Thomas Quinn is the fourth Samsung manager to plead guilty in the U.S. government's memory chip probe. He will serve eight months in prison and pay a $250,000 fine under the plea deal, the department said. He conspired to fix the price of memory chips sold to computer makers around 2001 and 2002, the department said. The scheme directly affected computer makers: Dell Inc. , Hewlett-Packard , IBM , Apple Computer Inc. , Gateway Inc. , Sun Microsystems Inc. and Compaq Computers, which was bought by Hewlett-Packard Co in 2002.

InformationWeek

Posted by | Fri, Sep 22, 2006 - 06:23 AM