By Foo Yun Chee – The European Commission imposed the biggest antitrust penalty in its history on Wednesday (Dec 4), fining six firms including Philips, LG Electronics and Samsung SDI a total of 1.47 billion euros ($1.92 billion) for running two cartels for nearly a decade.
The Commission said executives from the European and Asian companies met until six years ago to fix prices and divide up markets for TV and computer monitor cathode-ray tubes, technology now mostly made obsolete by flat screens.
Between 1996 and 2006 they met in Paris, Rome, Amsterdam and in Asia for “green meetings”, so-called because they often ended in a round of golf. more> http://tinyurl.com/auzp8t5
Related articles
- EU imposes $1.9 billion fine on screen producers (miamiherald.com)
- Philips, LG And Others Fined 1.47 Billion Euros by EU for Cartel – Bloomberg (bloomberg.com)
- Philips, LG Electronics, 4 others fined $1.92 billion for EU cartel (news.yahoo.com)
- EU imposes record $1.9-billion cartel fine on Philips, five others (theglobeandmail.com)
- Record EU fine for TV makers (bbc.co.uk)
- E.U. Fines Screen Producers $1.92 Billion (nytimes.com)
- EU imposes $1.9 billion fine on screen producers (foxnews.com)
- Philips, LG Electronics, 4 others fined $1.92 billion for EU cartel (news.terra.com)
