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E.U.: Ten percent of annual sales fine may hit TV manufacturers for price-fixing

 |  November 8, 2012

Sources say the European Commission may demand ten percent of annual sales from LG, Panasonic and Royal Philips as a fine for price-fixing agreements. The European Commission had investigated the companies into alleged price-fixing of cathode-ray tubes, a part used in televisions and computer monitors. Demand for the part, however, fell as consumers preferred slimmer, flat-screen products that do not require cathode-ray tubes. Other companies have also been investigated by the Commission, not only in the E.U. but also in Japan and South Korea.

Full Content: Bloomberg

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