Arctic Feezer 7x
Results 1 to 3 of 3

Thread: EU imposes $1.9 billion fine on screen producers

  1. #1
    Core Member

    xelosia is offline

    Last Online
    04-04-2020 @ 16:22
    Join Date
    May 2012
    Windsor Ontario
    CPU: Intel I5 7600k Gabby Lake
    M/B: Gigabyte aorus Z270X gaming K7
    RAM: 16 gig Ballistic tacticle DDR4
    GPU: powercolor devil R9 270X Windforce
    • xelosia's Full Spec's
      • Case:
      • Phanteks model m
      • PSU:
      • Antec Edge 650 watt
      • Cooling:
      • CoolerMaster master liquid ML240L rgb
      • Sound:
      • On Board SB output to a Pioneer VSX906S Reciever
      • Monitor:
      • Sharp 32Inch lcd
      • OS:
      • Windows 10 Pro 64 Bit
      • Misc:
      • LG Blue Ray Burner Fnatic rush mecanical cherry brown swichs Keyboard GSkill MX 780 mouse patriot viper 480 gig m2 NVMe sata OCZ Revo 350 960 gig PCIe Transcend 128 gig SSD Transcend 256 gig SSD CoolerMaster RGB mouse pad
    Thanked 388 Times in 321 Posts
    Points: 68,749, Level: 81
    Points: 68,749, Level: 81
    Level completed: 42%,
    Points required for next Level: 1,001
    Level completed: 42%, Points required for next Level: 1,001
    Overall activity: 99.0%
    Overall activity: 99.0%

    Default EU imposes $1.9 billion fine on screen producers

    BRUSSELS (AP) The European Union on Wednesday imposed its biggest ever cartel fine of almost 1.47 billion ($1.96 billion) on seven companies for fixing the market of television and computer monitor tubes.
    The EU's Commission ruled that, for a decade ending in 2006, the companies including Philips, LG Electronics and Panasonic 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."
    Tubes were the essential part of television screens and computer monitors before they were replaced by LCD and plasma flatscreens. The cathode ray tubes accounted for up to 70 percent of the cost of a screen, the Commission said.
    Alumina added that the tubes' cost gave "an indication of the serious harm" the companies had caused. "There are victims: millions and millions of citizens."
    Philips and LG Electronics, which acted jointly and separately, were fined a combined 999 million ($1.3 billion) with Panasonic punished with a 157 million ($205 million) fine, adding to more if combined fines and affiliates were included.
    Despite its cooperation with the Commission probe, Philips said in a statement it planned to appeal the fine since it considered it "disproportionate and unjust."
    "We regret that we are linked to this kind of behavior," said Philips CEO Frans van Houten.
    LG Electronics said it would only react after studying the decision.
    Other companies fined were Samsung SDI, Technicolor, MTPD and Toshiba. Chunghwa of Taiwan escaped fines as it was the first to reveal the cartel to the EU.
    "It is the biggest fine for a cartel, ever," Almunia said. The fine exceeded the previous record of the 2008 fine of 1.38 billion ($1.8 billion) in a car glass cartel.
    Almunia said the tubes cartel operated worldwide with the companies involved fully realizing they acted illegally.
    One document seized by the Commission had a warning "Everybody is requested to keep it as secret as it would be serious damage if it is open to customers or European Commission".
    Another documents said "Please dispose the following document after reading it".
    Even when the tube market went into a decline with the advent of flatscreens, the cartel made sure profits through production controls.
    "Instead of competing with each other to innovate and provide the best product at the best price, they chose to conspire to artificially maintain returns in a declining technology market," Almunia said. "This is why we fight cartels."
    The Commission started its probe with an antitrust raid on the companies in November 2007. Almunia said U.S. authorities were currently investigating the case as well.

    EU imposes $1.9 billion fine on screen producers - Yahoo! News

  2. #2
    Regular Member

    MattyMatt is offline

    Last Online
    03-08-2015 @ 20:01
    Join Date
    Jul 2012
    Edmonton, AB, Canadia
    CPU: Intel i7 3770K herp derp Mhz 6 oclock
    M/B: Asus P8Z77-V Deluxe Sausage not included
    RAM: Crucial Ballistix Sport 2X8GB DDR3-1600 1.5V CL9
    GPU: MSI 670 SLIng
    • MattyMatt's Full Spec's
      • Case:
      • Bitfenix Ghost
      • PSU:
      • Seasonic Platinum 860
      • Cooling:
      • H100 and fans, all bitfenix spectre pro
      • Sound:
      • Onboard for life
      • Monitor:
      • Benq XL2410T but no 3D, just the high heart rate
      • OS:
      • Windows are doors at 8
      • Misc:
      • I am missing some super special order screws that I cannot seem to find anywhere :/
    Thanked 44 Times in 41 Posts
    Points: 4,303, Level: 19
    Points: 4,303, Level: 19
    Level completed: 14%,
    Points required for next Level: 347
    Level completed: 14%, Points required for next Level: 347
    Overall activity: 8.0%
    Overall activity: 8.0%

    Default Re: EU imposes $1.9 billion fine on screen producers

    Damn... this is why Europe rocks. They fix thing for the rest of the world.

  3. #3

    Doctor_Death is offline

    Last Online
    25-02-2016 @ 11:04
    Join Date
    Apr 2008
    Punxsutawney, Pa. - USA
    CPU: Core i7 3930K
    M/B: ASRock X79 Extreme9
    RAM: 64GBs Kingston Beast 2133MHz
    GPU: Two EVGA GTX 690s in Quad SLI
    • Doctor_Death's Full Spec's
      • Case:
      • Corsair 900D
      • PSU:
      • Corsair AX1200i
      • Cooling:
      • Complete system cooled by EK Water Blocks
      • Sound:
      • Creative Sound Core 3D Audio 7.1
      • Monitor:
      • Dell U3011 30" 2560 x 1600 Res
      • OS:
      • Win 7 Ultimate 64Bit
      • Misc:
      • Asus Blu-Ray, Asus 24X DVD Burner, Max Mechanicalkeyboard / Razer Abyssus Mouse / Razer eXact Mat with wrist rest.
    Thanked 2,582 Times in 1,551 Posts
    Points: 490,204, Level: 100
    Points: 490,204, Level: 100
    Level completed: 0%,
    Points required for next Level: 0
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 0%
    Overall activity: 0%

    Default Re: EU imposes $1.9 billion fine on screen producers

    We'll have to wait and see what happens, the fine may boost prices even higher

Remove Ads

Sponsored Links

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Similar Threads

  1. South Korea Imposes Midnight Gaming Curfew
    By Lil' Dead in forum General Gaming
    Replies: 2
    Last Post: 13-04-2010, 14:54
  2. Fine-tuning/settings for my mild 3.4 i7920 oc?
    By H-508 in forum CPU Overclocking
    Replies: 4
    Last Post: 20-12-2009, 13:19
  3. Intel CEO Responds to $1.45 Billion Fine
    By News Team in forum Hardware News
    Replies: 0
    Last Post: 13-05-2009, 12:21
  4. 32m WinPrime scores (1.55 or 2.00 versions are fine)
    By _jM in forum CPU Overclocking
    Replies: 7
    Last Post: 19-04-2009, 06:02
  5. OS crapping out? Slow as heck/fine in safemode.
    By Slane420 in forum Operating Systems
    Replies: 15
    Last Post: 19-06-2008, 17:12

Search tags for this page

There are currently no search tags.
Click on a term to search for related topics.

Tags for this Thread