EC fines seven major electronics companies $1.93 billion over TV and computer monitor price fixing
he European Commission (EC) announced today that it has fined seven major electronics companies — including Samsung, Philips, Panasonic, Toshiba – €1.47 billion ($1.93 billion) for participating in either one or two cartels that restricted pricing of CRT TVs and computer monitors.
According to the EC, the seven international companies participated in “either one or both of two distinct cartels in the sector of cathode ray tubes (CRT)” between 1996 and 2006, where prices were fixed, markets shared and customers allocated between the accused parties.
One restricted the market for TVs, while the other controlled the supply and sale of color displays used in computer monitors across Europe.
Chunghwa, LG Electronics, Philips and Samsung SDI were named in both cartels
, with Panasonic, Toshiba, MTPD and Technicolor participated in the TV cartel.
Interestingly, Chunghwa played the role of ‘grass’
and was given full immunity from fines, after it revealed the existence of the cartels to the European Commission. When the other parties cooperated with the Commission, they were given a reduction in their fines.http://tnw.co/UeoYVFAntitrust: Commission fines producers of TV and computer monitor tubes € 1.47 billion for two decade-long cartels