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EU Fines LG Electronics Inc. And Other Makers of TV, PC Monitor Tubes EUR1.47 Billion In Cartel Probe-DJ

Wednesday, 5 Dec 2012 06:05am EST 

Dow Jones reported that Philips Electronics NV, Samsung SDI Co., Ltd. and Panasonic Corporation are among a group of seven companies fined EUR1.47 billion ($1.92 billion) by European regulators on Wednesday for operating a two-decade-long cartel in TV and computer monitor tubes. The European Commission said LG Electronics Inc., Philips Electronics NV and Samsung SDI participated in both cartels, while Panasonic, Toshiba Corp, MTPD, a Panasonic subsidiary and Technicolor, formerly Thomson participated only in the cartel for television tubes. Whistle-blower Chunghwa from Taiwan has received full immunity from fines as it was the first company to reveal the cartels' existence. Other companies received reductions of their fines for cooperating in the probe. The Commission said the two cartels were among the most organized cartels that it had investigated. 

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