Tag Archives: Cartel

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Samsung, LG, Philips and other TV makers fined $1.9 billion for EU price fixing

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Samsung, LG, Philips and other TV makers fined $19 billion for EU price fixing

Some of the biggest TV manufacturers have been slapped with a $1.92 billion fine by the EU after regulators found the gang had been fixing prices of cathode-ray tubes for more than 20 years. Competition chief Joaquin Alumunia said that the group were acting as a cartel, featuring "all the worst kinds of anti-competitive behavior that are strictly forbidden [...] in Europe." Philips ate the biggest fine, having to pay $411 million, while LG, Panasonic, Samsung, Toshiba and Technicolor all coughed up between $386 million and $36 million. It follows an investigation which began in 2007 -- just when we all fell out of love with the old-fashioned technical standard.

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Source: Reuters

European Commission investigating 13 companies for optical drive price fixing

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European Commission investigating 13 companies for optical drive price-fixing

The European Commission is digging it its heels and officially launching an investigation into 13 companies for allegedly rigging bids on optical drives with at least two major OEMs. The companies haven't been named, but it's safe to assume if the Commission is getting involved these aren't two-bit players selling cheap knockoffs. With the Statement of Objections issued, now its a matter of gathering evidence and formally charging those it can build a case against. With an e-book investigation underway and a DRAM conspiracy not far in its past, the existence of an optical drive cartel is probably not the sort of news the Commission wants to hear right now. Sadly, there's not much detail to share, but you'll find the complete and brief PR after the break. Now its just time to sit back and wait to see what companies we're allowed to start hating next.

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European Commission investigating 13 companies for optical drive price fixing originally appeared on Engadget on Tue, 24 Jul 2012 08:49:00 EDT. Please see our terms for use of feeds.

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Report: HP’s South Korean offices raided over alleged price fixing

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Korea Times is a publication that isn't shy of the odd bold statement and today it's claiming that HP's South Korean offices were raided on suspicion of price-fixing deals made with IBM and Oracle. The country's Fair Trade Commission seized documents, computer records and questioned employees over alleged price-rigging on public-sector contracts. A company spokesperson said that the visit was routine, while FTC officers refused to comment about ongoing matters, but what is clear is that if any wrong-doing is found, the case will be turned over to prosecutors with the aim of commencing criminal proceedings for those responsible.

Report: HP's South Korean offices raided over alleged price fixing originally appeared on Engadget on Mon, 16 Apr 2012 11:52:00 EDT. Please see our terms for use of feeds.

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