Philips fined for being part of smart card chip maker cartel

Dutch electronics giant Philips has been fined €20m by the European Commission for its role in a 10-year-old smart card chip producer cartel.

In total, Brussels levied fines of €138m on Philips, Infineon, Samsung and Renesas (then a joint venture between Hitachi and Mitshubishi). The fine dates back to the period 2003-2005.

Philips has since divested its smart card chips business but remains liable for what happened during the period of the infringement, Brussels said in a statement.

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