Royal Philips Electronics NV (PHIA) and LG Electronics Inc. (066570) are among companies fined a record 1.47 billion euros ($1.9 billion) by European Union antitrust regulators over price-fixing deals on now-obsolete cathode-ray tubes used in televisions and computer monitors.
Philips was fined 313.4 million euros, while LG faces a 295.6 million-euro penalty, the European Commission said in a statement today. Philips and LG also share a fine of 391.9 million euros for a unit they jointly owned. Panasonic Corp. (6752) was fined 157.5 million euros and shares an 86.7 million-euro punishment with Toshiba Corp. and MTPD, a Panasonic unit. Panasonic and MTPD also share a 7.9 million-euro fine.
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