Electronics manufacturers still on the same old price fixing practice. Record fine — 1.9 billion


The European Commission has found Philips, Samsung SDI,¬†LG, Panasonic, Toshiba and Technicolor guilty for EU¬†price fixing regarding TV and monitor cathode ray tubes. European manufacturer Philips received the biggest fine of all — 313.4 million euros, followed by LG with 295.6 million euros fine, Samsung close to 151 million euros, while Toshiba and Technicolor were fined with 65 million euros (28 million Toshiba, 38.6 Technicolor). In total EU fine reached a staggering 1.92 billion euros, says Reuters.

Taiwanese firm Chunghwa Picture Tubes who apparently snitched on the cartels price fixing in TV and computer monitors, escaped a fine.

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

source Reuters