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TV Manufacturers fined 1.92 Billion Dollars by EU for "Price Fixing"

dryriver (1010635) writes | about a year and a half ago

0

dryriver (1010635) writes "The BBC reports: 'The European Commission has imposed a record 1.47bn euro ($1.92bn; £1.19bn) fine on a number of TV makers for price-fixing. EU anti-trust regulators fined the companies for fixing prices of TV and computer monitor cathode-ray tubes over a decade. Dutch-based Philips faces the biggest penalty of 313.4m euros, followed by LG Electronics with 295.6m. Panasonic, Samsung, Toshiba and Technicolor were also fined 375m euros. Taiwanese firm Chunghwa Picture Tubes escaped any fine for blowing the whistle on the cartel. "These cartels for cathode ray tubes are 'textbook cartels': they feature all the worst kinds of anticompetitive behaviour that are strictly forbidden to companies doing business in Europe," said EU Competition Commissioner Joaquin Almunia.'"
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