Philips fined half a billion euros for price fixing

Seven companies have been fined almost 1.5bn euros for fixing the prices on displays.

Philips has been fined 313m euros and has been told to split a 392m euro fine with LG. LG also pays another fine of 296m euros. Samsung has been fined 151m euros. Panasonic has been fined 157m euros. Toshiba has been fined 28m euros. MTPD shared in a fine of 95m euros shared between Panasonic and Toshiba.

Whistle-blower Chunghwa Picture Tubes escaped paying a fine which would have been 17m euros.

The fines relate to business conducted between 1996 and 2006 in the CRT market.

The Americans are still investigating the case and civil actions by customers are expected to follow the EU decision.

Tags: Panasonic, Philips, Samsung

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