EU: Smart chips loose appeal against cartel fines

Philips and Infineon lost an appeal on Thursday against a combined 102.9 million euro ($107.8 million) cartel fine after a European court said EU antitrust regulators was correct to find they had fixed prices of smart card chips.

The European Commission in its 2014 decision handed down a total fine of 138 million euros to Philips, Infineon and Samsung for operating a smart card chip cartel in Europe. Infineon’s penalty was 82.78 million and Philips’ 20.15 million.

Renesas escaped a fine because it alerted the cartel to the authorities. Smart card chips are used in bank cards, telephone SIM cards and identity cards.

The Luxembourg-based General Court, Europe’s second-highest, dismissed the companies’ appeal and upheld the fines.

“The Court states that the Commission was correct to find that Philips and Infineon had participated in anti-competitive practices,” judges said.

The companies can take their case to the Court of the European Union but only on points of law.

Full Content: Reuters

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