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E.U. Nearly $2B in fines for CRT cartels

 |  December 5, 2012

A nearly $2 billion fine has been issued by the European Commission to manufacturers of cathode-ray rubes (CRTs) for their involvement in two separate cartels between 1996 and 2006. According to the European Union, 50 to 70 percent of a screen is determined by the price of CRTs. The investigation found that seven international manufacturers of electronics that use CRTs conspired together to fix prices and share commercial information, thereby hampering competition. The Commission noted that not all of the companies found in violation – which include LG Electronics, Panasonic and Toshiba – participated in both cartels, and not all fixed prices of all types of CTTs. The final fine was issued for $1.92 billion. Taiwanese company Chunghwa received full immunity as it was the first to come forward with information regarding the cartel activity.

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