Fri, Nov 09, 2012 - Page 15 News List

Firms set to face EU fines over cathode-ray tube price-fixing

Bloomberg

LG Electronics Inc, Panasonic Corp and Royal Philips Electronics NV may be fined by EU antitrust regulators within weeks over price-fixing agreements for cathode-ray tubes used in televisions, four people said.

Technicolor SA is also among companies earmarked for possible European Commission fines as soon as Nov. 28, one of the people said. Other manufacturers including Toshiba Corp have been asked to meet with EU officials prior to a preliminary decision on fines by a panel of EU and national competition authorities, another person said.

Hitachi Ltd and Samsung SDI Co are also involved in the case, one person said. The people spoke on condition of anonymity because the process is not public.

Philips and Technicolor received objections in an EU probe in 2009. Antitrust watchdogs in the EU, Japan and South Korea raided companies in 2007 over concerns they colluded to fix prices for tubes in computer monitors and color televisions.

Taiwan’s Chunghwa Picture Tubes Ltd (中華映管) will not be fined because it was the first to inform regulators of the cartel, two people said.

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