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EU fines TV makers for 1.47 billion euro

hankwang (413283) writes | about a year and a half ago

0

hankwang (413283) writes "The European commission fined a number manufacturers for pricing fixing of cathode ray tubes in the period between 1996 and 2005. The total fine was EUR 1.47 billion (USD 1.92 billion), for Philips, LG Electronics, Samsung SDI, and three other firms. According to the European Commission: "For almost 10 years, the cartelists carried out the most harmful anti-competitive practices including price fixing, market sharing, customer allocation, capacity and output coordination and exchanges of commercial sensitive information. The cartelists also monitored the implementation, including auditing compliance with the capacity restrictions by plant visits in the case of the computer monitor tubes cartel. "

Other news sources:
http://www.bloomberg.com/news/2012-11-07/lg-said-to-face-eu-fines-with-philips-panasonic-for-cartel.html
http://www.reuters.com/article/2012/12/05/us-eu-cartel-crt-idUSBRE8B40EK20121205
http://news.cnet.com/8301-1001_3-57557212-92/philips-lg-samsung-others-hit-with-eu-antitrust-fine/"

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