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Netherlands: Price-fixing fine doesn’t stop Philips from financial growth

By  |  January 29, 2013

Despite a recent fine administered by the European Commission to Royal Dutch Philips electronics company for price-fixing in the television market, the company reported a 50 percent improvement in its fourth quarter operational results. The European Commission fined the company $684 million in additions to other electronics companies; regardless, the company reported a net income of more than $200 million. Philips is reportedly appealing the fine, issued last December. The company also announced it would transfer certain assets – including its audio, video and multimedia accessories business – to Japan’s Funai Electric co. for about $200 million and the Lifestyle Entertainment unit license fee.

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    Full Content: NZWeek

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