TV Manufacturers Fined For 'Price Fixing'

Written By Unknown on Rabu, 05 Desember 2012 | 18.56

Six TV manufacturers have been fined a record £1.2bn after being accused by EU competition regulators of fixing the price of a key component.

Philips, LG Electronics and Samsung SDI are among the firms affected by the case, which examined the prices of TV cathode-ray tubes in two cartels lasting nearly a decade, European Commission investigators said.

The biggest penalty, of 313.4 million euros (£254m) was imposed on Dutch-based Philips.

The EC said the other companies involved were Panasonic, Toshiba and French company Technicolor.

Taiwanese firm Chunghwa Picture Tubes blew the whistle on the alleged cartel and escaped a fine.

EU Competition Commissioner Joaquin Almunia said in a statement: "These cartels for cathode ray tubes are 'textbook cartels': they feature all the worst kinds of anti-competitive behaviour that are strictly forbidden to companies doing business in Europe."

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