Philips plans to appeal EU fine for competition violation

AMSTERDAM Wed Dec 5, 2012 6:22am EST

AMSTERDAM Dec 5 (Reuters) - Philips Electronics said on Wednesday it planned to appeal a European Commission fine for violating competition rules in the cathode-ray tubes industry.

Philips, LG Electronics, Samsung SDI and three other firms were fined a record 1.47 billion euros ($1.92 billion) by EU antitrust regulators for fixing prices of cathode-ray tubes in two cartels lasting nearly a decade.