Fixing Prices of Picture Tubes LG Philips, Samsung, Panasonic Toshiba fined $1.92 Billion

Fixing Prices of Picture Tubes LG Philips, Samsung, Panasonic Toshiba fined $1.92 Billion

Europe –

The European commission said the cartels operated for a decade, beginning around 1996, and had engaged in the most organized market manipulation it had ever investigated.

The conspiracies included price fixing, market sharing, customer allocation, and exchanges of sensitive commercial information.

Europe’s top antitrust regulator announced fines totaling 1.47 billion euros, or $1.92 billion, for seven companies accused of fixing the price of picture tubes for television and computer screens over 10 years, through 2006.

Chunghwa, a Taiwanese company, received full immunity from fines because it revealed the conspiracy.

Companies that received some of the highest fines included LG Electronics, Philips, Samsung, Panasonic, and Toshiba.

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Europe Fines Electronics Makers $1.92 Billion

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Wednesday, December 05, 2012

Tags – Picture Tube Price Fixing