Philips may be fined for microchip cartel

Philips may be fined by the European Commission (EC) for the formation of cartels in the fabrication of microchips. Sources in Brussels have reported this to Omroep Brabant.  Microchips are no longer made by Philips, not since 2006. The branch went independent under the name NXP Semiconductors. The offense is almost expired, then, meaning that the European Commission has to make a decision about the possible fine before the 9th of September. According to sources, Philips is trying to stretch time on the case by shooting holes in the arguments coming from the Commission in Brussels. The European Commission announced earlier that there is suspicion that several microchip fabricators - for mobile phones, bank cards and identity cards - have formed cartels, which are strategies associations of corporations or manufacturers use to minimize competition and keep prices high.