An Interest In:
Web News this Week
- April 25, 2024
- April 24, 2024
- April 23, 2024
- April 22, 2024
- April 21, 2024
- April 20, 2024
- April 19, 2024
Samsung, LG, Philips and other TV makers fined $1.9 billion for EU price fixing
Some of the biggest TV manufacturers have been slapped with a $1.92 billion fine by the EU after regulators found the gang had been fixing prices of cathode-ray tubes for more than 20 years. Competition chief Joaquin Alumunia said that the group were acting as a cartel, featuring "all the worst kinds of anti-competitive behavior that are strictly forbidden [...] in Europe." Philips ate the biggest fine, having to pay $411 million, while LG, Panasonic, Samsung, Toshiba and Technicolor all coughed up between $386 million and $36 million. It follows an investigation which began in 2007 -- just when we all fell out of love with the old-fashioned technical standard.
[Image Credit: Wikimedia Commons]
Filed under: Home Entertainment, HD, Samsung, LG
Source: Reuters
Original Link: http://www.engadget.com/2012/12/05/eu-tv-cartel-fine/
Engadget
Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WIMore About this Source Visit Engadget