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Samsung To Pay Out $300 Million In Anti-Trust Suit

Posted by Zonk on from the that's-a-lot-of-ram dept.

infernalC writes "Reuters is reporting that Samsung has agreed to plea guilty to charges of price fixing in the memory market in a $300 million settlement." From the article: " Samsung would become the third chip maker to plead guilty in the wide-ranging probe of the prices of dynamic random access memory, or DRAM, chips. The Justice Department has blamed the price-fixing conspiracy for driving up the price of chips used in products ranging from personal computers and servers to cell phones, cameras and game consoles."

3 of 227 comments (clear)

  1. The Real Question... by caenorhabditas · · Score: 5, Insightful

    The real question here seems to be, "Will Samsung actually change their practices?" In many high-profile anti-trust cases, it seems that the government will fine the company involved, but then the company goes back to the same old tactics of price fixing and other monopolistic behavior. How does the DOJ propose to prevent Samsung from illegal tactics in the future?

  2. Cue the libertarian economists by Marxist+Hacker+42 · · Score: 5, Insightful

    Who will tell us all how regulation will never solve anything and how the government is evil for trying to break up this scam based on their own outlandish economic theories.

    Of course, from my way of thinking, $300 million, or even $485 million if you count the fine against the other chip manufacturer fined so far, is probably just a drop in the bucket compared to the money earned by this scheme. We're lucky to have a regulated economy where the government can do *something* about this at least- but if you think this is going to make those who like money more than people stop trying to destroy the free market, then I've got a bridge or six in Portland to sell you....

    --
    SJW: a person who perceives an injustice, and while correcting it, commits a greater injustice.
    1. Re:Cue the libertarian economists by dada21 · · Score: 5, Interesting

      There isn't easy empirical evidence or equations to be had.

      The Austrians (Mises, Hayek, Rothbard, Rockwell) point to the fact that money is a commodity affected by supply and demand and that prices are as well.

      When you involve a million regulations, tariffs, taxes and fees, it is very difficult to scientifically attribute prices to reality. Fox example, gas. The price of gas is affected by too many government mandates to set an equation to. Mandated blends, refinery monopoly, distribution restrictions, price controls, etc. Did you know we sell our oil to Iraq for pennies a gallon? Government gas needs also raise prices by reducing supply.

      In a free and unregulated market, the best quality and best price occur from billions of consumers making unique choices.

      Economics to me is philosophical today. How else can you account for nearly every American putting faith in legal counterfeiting (inflation) and legal bubble-building (artificially low interest rates and artificially high loan acceptance due to FNMA)?

      Don't read Mises for junk science, read Mises to better understand those you put in public office.