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EU fines Samsung for smartcard chip price fixing Updated: 2014-09-04 18:14:45 KST

Putting a slight damper on Samsung's parade was news that the company has been ordered to cough up more than 35 million euros, or roughly 46 million U.S. dollars in fines to the European Union, for the alleged price fixing of micro-card chips used in mobile phones.
An investigation into three companies -- Samsung, Philips, and Infineon -- began in 2008 and the European Commission says they colluded between 2003 and 2005.
Samsung's fine has been reduced by 30 percent for cooperating with the investigators.
Philips plans to appeal, saying it firmly believes the claims are unfounded.
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