Subscribe free to our newsletters via your
. 24/7 Space News .




CHIP TECH
EU fines Samsung, Philips and Infineon over smartcard chip cartel
by Staff Writers
Brussels (AFP) Sept 03, 2014


Mobile wallet rebrands as Softcard
Washington (AFP) Sept 03, 2014 - US mobile payments firm Isis has officially changed its name to Softcard, completing the process of distancing itself from a militant Islamic group sometime known by the same acronym.

The company, which is backed by US wireless giants AT&T, Verizon and T-Mobile, announced in July it was dropping the name Isis, which may also be a reference to the militant group Islamic State of Iraq and Syria, also known as the Islamic State of Iraq and the Levant (ISIL).

"However coincidental, we have no desire to share a name with this group and our hearts go out to those affected by this violence," chief executive Michael Abbott said in a statement.

"Our search for a new name has been rooted in our founding vision: to use the power of the mobile phone to help consumers find a safer and better way to shop, pay and save. But we also wanted a name and visual identity that had the power, flexibility and simplicity to define our category."

The rebranding will be completed "in a few weeks," according to the company website.

The service allows its customers to load card payment information to a smartphone, which can then be swiped at a merchant terminal.

The European Union fined Infineon, Philips and Samsung a total of 138 million euros (181 million dollars) on Wednesday for fixing the prices of smartcard chips, in its latest anti-trust case against technology firms.

The German, Dutch and South Korean companies "colluded" between 2003 and 2005 to form the cartel on the chips, which are widely used in mobile phones, bank cards and passports, the European Commission said in a statement.

Japan's Renesas was granted immunity for revealing the existence of the cartel to the commission, which began its investigation in 2008 with raids on the companies.

Infineon Technologies AG was fined 82.7 million euros, Philips 20.1 million euros, and Samsung 35.1 million euros, with the latter having its penalty reduced by 30 percent for having cooperated with investigators.

Rejecting the allegations as "unfounded," both Infineon and Philips said they would appeal the decision.

The companies "in our view knew that their conduct was illegal," said Joaquin Almunia, the commission's vice president in charge of competition policy.

They "discussed and exchanged sensitive commercial information on pricing, customers, contract negotiations, production capacity or capacity utilisation and their future market conduct," the commission said.

Almunia added that "in this digital era smart card chips are used by almost everybody, whether in their mobile phones, bank cards or passports."

Companies producing them should be focused on being competitive, he said, adding: "If instead companies choose to collude, at the expense of both customers and end consumers, they should expect sanctions."

- 'Ready to appeal' -

The commission said that Renesas and its joint-venture parent companies Hitachi and Mitsbubishi had avoided a fine of more than 51 million euros because it was the first to reveal the existence of the cartel to the EU.

It said that Philips "remains liable for what happened during the period of infringement" even though it has since divested its smart card chips business.

Anyone harmed by the cartel may seek damages before the courts of the European member states, the commission said.

Infineon said from its base in Neubiberg, Germany, that it will review the decision and is "ready to appeal" at the General Court of the European Union in Luxembourg.

It said it had conducted its own thorough probe and "concluded that none of its personnel acted improperly in handling competitively sensitive information" about smartcard chips.

In Amsterdam, senior Philips press officer Steve Klink told AFP that his company would appeal the decision as "we firmly believe that claims of anti-competitive behaviour by the former Philips smart card chips business are unfounded."

The EU has previously fined US computer chip giant Intel 1.06 billion euros for abusing its dominant market position.

In another case, following accusations it was squeezing out competitors in Europe's search market, Google, the world's largest search engine, reached a tentative deal with the Commission in which it would display rivals' links more prominently and avoid a fine of up to five billion euros.

Brussels launched its investigation of Google in November 2010 following a complaint by several companies, including Microsoft.

The case remains open as Almunia said his staff were "now analysing the responses" to the deal with Google that were received over the summer from 18 of the 20 plaintiffs.

.


Related Links
Computer Chip Architecture, Technology and Manufacture
Nano Technology News From SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








CHIP TECH
Google working on super-fast 'quantum' computer chip
San Francisco (AFP) Sept 03, 2014
Google on Tuesday said it is working on a super-fast "quantum" computer chip as part a vision to one day have machines think like humans. The Internet titan added renowned researcher John Martinis and his team at the University of California, Santa Barbara, to the Quantum Artificial Intelligence team at Google, according to director of engineering Hartmut Neven. The new hires are part of ... read more


CHIP TECH
China Aims for the Moon, Plans to Bring Back Lunar Soil

Electric Sparks May Alter Evolution of Lunar Soil

China to test recoverable moon orbiter

China to send orbiter to moon and back

CHIP TECH
Scientist uncovers red planet's climate history in unique meteorite

A Salty, Martian Meteorite Offers Clues to Habitability

Opportunity Mars Rover Suffers a Series of Resets

Mars Rover Team Chooses Not to Drill 'Bonanza King'

CHIP TECH
US to Stop Using Soyuz Spacecraft, Invest in Domestic Private Space Industry

25 Years After Neptune: Reflections on Voyager

Long-term spaceflights challenged as harm to astronauts' health revealed

Voyager Map Details Neptune's Strange Moon Triton

CHIP TECH
Same-beam VLBI Tech monitors Chang'E-3 movement on moon

China Sends Remote-Sensing Satellite into Orbit

More Tasks for China's Moon Mission

China's Circumlunar Spacecraft Unmasked

CHIP TECH
NASA Awaits Boeing's Completion of Soyuz Replacement

Belka and Strelka, the canine cosmonauts

Russian Cosmonauts Conclude EVA Ahead of Schedule

Orbital cargo ship makes planned re-entry to Earth

CHIP TECH
Sea Launch Takes Proactive Steps to Address Manifest Gap

SpaceX rocket explodes during test flight

Russian Cosmonauts Carry Out Science-Oriented Spacewalk Outside ISS

Optus 10 delivered to French Guiana for Ariane 5 Sept launch

CHIP TECH
Orion Rocks! Pebble-Size Particles May Jump-Start Planet Formation

Rotation of Planets Influences Habitability

Planet-like object may have spent its youth as hot as a star

Young binary star system may form planets with weird and wild orbits

CHIP TECH
The power of salt

Researchers map quantum vortices inside superfluid helium nanodroplets

NASA Probes Studying Earth's Radiation Belts to Celebrate Two Year Anniversary

US Space Debris Tracking Site To Be Build In Western Australia




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.