Samsung Electronics Co. (SSNLF.PK) and Toshiba Corp. (TOSBF.PK) said that the U.S. Department of Justice, or DOJ, ended a two-year investigation into possible antitrust violations in the flash-memory chip industry, media reported Thursday.
As per the reports, Samsung and Toshiba, the two largest makers of flash-memory chips, have been informed about the conclusion of the investigation.
The DOJ reportedly began investigation on flash-memory chip makers in September 2007, broadening a crackdown on possible price fixing in the semiconductor industry. NAND flash memory chips are widely used to store data in music players and digital cameras.
Renesas Technology Corp., a venture owned by Hitachi Ltd. (HIT) and Mitsubishi Electric Corp. (MIELF.PK, MIELY.PK), and SanDisk Corp. (SNDK) also received subpoenas. On August 19, Hitachi reportedly said in a filing with the U.S. Securities and Exchange Commission that the company was informed in July that the DOJ's Antitrust Division would terminate the investigation.
The U.S. agency had already won a series of convictions for price-fixing in the market for chips known as dynamic random access memories, or DRAMs. The DOJ reportedly said in 2006 that four companies and 16 individuals had been charged as a result of an investigation into the DRAM industry, with fines totaling more than $731 million.
According to Dramexchange Technology Inc., an operator of spot market for semiconductors, Samsung accounted for 37.2% of the market in the second quarter followed by Toshiba with 34.5%.
SSNLF.PK closed Thursday's trading at $440.92, while TOSBF.PK ended at $5.00.
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