Xinhua News Agency, The Hague, December 5th (Reporter Pan Zhijiang Hui) The European Union's antitrust regulator issued a total of 1.47 billion euros (about 19.2 billion euros) to 7 companies including Royal Philips of the Netherlands on the 5th. Billions of dollars). Among them, Royal Philips of the Netherlands has the highest fine of 313 million euros; in addition, Philips and LG each hold 50% of LPD companies also received a fine of 392 million euros. The European Union's antitrust regulator said that in addition to Royal Philips of the Netherlands, it also issued fines to South Korea's Samsung, LG, French Special, Toshiba, Panasonic and its MTPD companies, and demanded payment of fines within three months. The huge fines issued to these companies were mainly due to their alleged malicious manipulation of CRT (cathode ray tube) prices from 1996 to 2006, which caused consumers to suffer economic losses and disrupted the fair competition order in the market. In addition, the European Union also issued fines for the computer display business of some companies for alleged unfair competition. Philips issued a press release that day, planning to appeal the relevant decisions of the EU antitrust regulator. The communique said that Philips had already divested its CRT business as early as 2001. The LPD joint venture established with LG is considered an independent company because its accounts have never been included in Philips ’consolidated general accounts. Since then, in 2006, LPD went bankrupt, and Philips has declared the case in its previous report to the relevant EU authorities. Philips President Marriott Town regrets this decision. He said: "Philips plans to file an appeal and cooperate with the relevant EU authorities to investigate. I hope this will reduce the amount of fines." According to local media reports in the Netherlands, the senior managers of these companies passed an informal "green meeting" between 1996 and 2006 to agree on the production of a limited number of cathode ray tubes. (Finish)
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Mainly because of its allegedly maliciously manipulating the price of CRT (cathode ray tube) between 1996 and 2006, it caused consumers to suffer economic losses and at the same time disrupted the fair competition order in the market. In addition, the European Union also issued fines for the computer display business of some companies for alleged unfair competition.