Today's Hard|Forum Post
Today's Hard|Forum Post

Wednesday December 05, 2012

EU Imposes $1.9B Fine On Screen Manufacturers

The EU has imposed the largest cartel fine ever against seven computer monitor manufacturers for price fixing.

The EU's Commission ruled that, for a decade ending in 2006, the companies آ— including Philips, LG Electronics and Panasonic آ— artificially set prices, shared markets and restricted their output at the expense of millions of consumers. EU antitrust Commissioner Joaquin Almunia said that the companies' actions "feature all the worst kinds of anticompetitive behavior that are strictly forbidden to companies doing business in Europe."