The companies fined for price fixing include Philips, LG Electronics, Samsung, Panasonic, Toshiba, Technicolor and MTPD.
The anticompetitive behavior that actually prompted the fines is ancient history in the fast-paced consumer electronics industry. Focused on yesterday’s fat TVs — yes, the CRT ones that actually aimed electron guns at viewers — the price-fixing actually ended six years ago. But while the wheels of justice may move slowly, they do move, according to EU Competition Commissioner Joaquin Almunia.Source: VentureBeat
“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,” Almunia said in a statement.
Philips earned the biggest fine, €313 million, as one of the ringleaders, while LG was fined €295 million. Panasonic’s penalty was smaller but still very substantial, at €157 million, and Samsung will be forced to pay €151 million.