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Samsung found guilty of price fixing

Samsung executive Young Hwan Park will spend 10 months in prison after being found guilty of conspiring to fix pricing of computer memory chips. He will also have to pay a $250,000 (£127,000) fine.

Park, president of Samsung Semiconductor Inc , a US branch of the Korean electronics giant, took part in the crime while he was vice president of sales at Samsung.

The US Department of Justice accused Park of conspiring with other key memory manufacturers to fix the, estimated, $33billion (£16billion) market.

Hynix Semiconductor Inc based in South Korea, Elpida Memory Inc in Japan, Infineon Technologies from Germany and Micron Technology Inc in North America were among the other companies also accused.

Samsung was unwilling to put anyone forward for comment on this story.