CRT price cartel
Samsung, LG, Philips & others fined €1.5 billion

07 Dec 2012 | Rasmus Larsen |

The price cartel investigation is ongoing and Samsung, LG, Panasonic, Philips, Toshiba and Technicolor have just been fined a total of €1.47 billion ($1.9 billion) for cathode ray price fixing. Philips has to cough up the largest fine.

TV makers fined $1.9 billion

This is not the first price fixing ruling as most of the companies have already been fined in a LCD price fixing scandal. The ongoing investigation has now turned up evidence that the company also had a price cartel established during the CRT days, over the course of two decades (1996 to 2006).

Price cartel
TV makers have been fined 1.9 billion USD for a CRT price cartel


The companies are said to have been involved in “all the worst kinds of anti-competitive behavior that are strictly forbidden” in Europe. Philips has to eat the largest fine at €313 million ($411 million), followed by LG, Panasonic, and Samsung. Toshiba and Technicolor (formerly Thomson) were also fined.

Both picture tubes for TVs and for PC monitors were sold at artificially high prices during the period. The display maker Chungwa was also involved but received full immunity from fines as they were the first to reveal the details. Other companies also received reductions to the fines for their collaboration.

The cartels operated worldwide but held meetings in Europe and Asia followed by a golf game and therefore referred to as “green meeting” between the participants. Most letters were followed by "Please dispose the following document after reading it" as the participants were well aware that they broke the law during the time.

The investigation started in 2007 and could turn up even more ugly findings.

- Source: Europa press



Share on:


Latest news

Samsung TV

Samsung: Important to scan your Samsung TV for malware & viruses

17 Jun 2019 | Rasmus Larsen |
UEFA.tv

UEFA debuts free streaming service UEFA.tv

14 Jun 2019 | Rasmus Larsen |
Sony A9G OLED

Sony A9G OLED wins 'King of TV' at 2019 TV Shootout

13 Jun 2019 | Rasmus Larsen |
The Wall Luxury

Samsung will launch 'The Wall Luxury' microLED displays in July

13 Jun 2019 | Rasmus Larsen |
Xbox

Next-gen Xbox console will have a disc drive

12 Jun 2019 | Rasmus Larsen |
Sony A8G

Sony 2019 A9G and A8G OLED TVs now available

11 Jun 2019 | Rasmus Larsen |
Iron Man

All Marvel Cinematic Universe films will be remastered in 4K

10 Jun 2019 | Rasmus Larsen |
Project Scarlett

Next-gen Xbox: 8K graphics, 120fps, SSD & ray-tracing - launching in 2020

10 Jun 2019 | Rasmus Larsen |