Price-Fixing Fine Slaps Philips, Samsung, Panasonic and LG

The European Commission doesn't appreciate their activities

After a long, drawn-out legal investigation, the European Commission has reached the conclusion that an LCD price-fixing conspiracy had really existed for nearly a decade.

Philips, LG, Panasonic and Samsung are the latest to get fined for it. They will have to cough up a cumulative 1.47 billion Euro (roughly $1.92 billion).

In addition to these four, Toshiba and Technicolor have been fined as well, though much lower sums.

The main price fixing happened to cathode-ray tubes found in televisions and computer monitors. These components accounted for 50 to 70% of the full prices of such displays.

This also explains why the difference between the products and flat-screen models (like LCDs) didn't turn out to be larger.

Philips is feeling the worst of the monetary punishment, having to pay 313.4 million Euro ($411 million). LG is second, Panasonic third and Samsung fourth.

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