All the latest UK technology news, reviews and analysis


EC lashes Samsung, Panasonic and other CRT makers with €1.47bn price fixing fine

05 Dec 2012
European Union flag

The European Commission (EC) has fined several firms including Samsung, Panasonic, Philips and LG €1.47bn for fixing the prices of cathode ray tubes (CRTs).

The EC levied the fines against most of the biggest names in the CRT business for participating in one or two cartels between 1996 and 2006.

The EC's €1.47bn fine was handed down after it said the firms had "fixed prices, shared markets, allocated customers between themselves and restricted their output" of CRT units, with the commission claiming that the cartels were "among the most organised cartels" it has investigated.

With Taiwanese hardware manufacturer Chunghwa blowing the whistle and escaping the fine, it was left to the others to carry the can, though other firms involved got partial reductions. LG Electronics and Philips came out the worst, both getting hit with two fines with LG getting one for €295m and Philips €313m, while the two received a separate joint fine of €391m.

Samsung and Panasonic got hit with €150m and €157m respectively, while two other Panasonic joint ventures were hit with €86m and €7m fines. Toshiba and Technicolor received the smallest fines, €38m and €28m respectively.

"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," said Joaquín Almunia, the Commission's vice president in charge of competition policy.

"Cathode ray tubes were a very important component in the making of television and computer screens. They accounted for 50 to 70 [percent] of the price of a screen. This gives an indication of the serious harm this illegal behaviour has caused both to television and computer screen producers in the EEA [European Economic Area], and ultimately the harm it caused to the European consumers over the years."

The EC finally managed to bring to book a number of CRT manufacturers for price fixing more than five years after the offences, by which time CRTs have been largely superceded.

  • Comment  
  • Tweet  
  • Google plus  
  • Facebook  
  • LinkedIn  
  • Stumble Upon  
More on Law
What do you think?
blog comments powered by Disqus
Poll

BYOD vs CYOD vs BYOC poll

Which approach is your firm taking to managing employees' mobile devices?
21%
13%
4%
22%
29%
11%

Popular Threads

Powered by Disqus
Sony Xperia Z2 Tablet powered by Android KitKat 4.4

Sony Xperia Z2 Tablet video

We take a look at the lightweight, waterproof tablet

Updating your subscription status Loading
Newsletters

Get the latest news (daily or weekly) direct to your inbox with V3 newsletters.

newsletter sign-up button
hpv33

Data protection: the key challenges

Deduplication is a foundational technology for efficient backup and recovery

rdc2

iPad makes its mark in the enterprise

The iPad can become a supercharged unified communications endpoint, allowing users to enhance their productivity

Web Developer (.NET/C#) Microsoft Gold Partner

Cathcart Associates are helping one of our established...

Web Developer (ASP.Net)

Web Developer (ASP.Net) - Glasgow - circa £40k FTC...

Technical Author / Consultant

Technical Author / Consultant - Edinburgh - up to £55k...

Access Database Analyst / Developer

Database Analyst/Developer About the Role A...
To send to more than one email address, simply separate each address with a comma.