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5 months ago
EU court upholds cathode ray tube cartel fines on Samsung SDI
March 9, 2017 / 10:11 AM / 5 months ago

EU court upholds cathode ray tube cartel fines on Samsung SDI

2 Min Read

The company logo is displayed at the Samsung news conference at the Consumer Electronics Show (CES) in Las Vegas January 7, 2013.Rick Wilking/File Photo

BRUSSELS (Reuters) - The European Union's top court upheld fines of 150.8 million euros (131 million pounds) imposed on Korea's Samsung SDI and subsidiaries for participating in cartels to fix the prices of cathode ray tubes used in televisions and as computer monitors.

The European Commission imposed fines totalling 1.47 billion euros on a group of companies including Philips, LG Electronics and Panasonic in 2012 for participating in cartels in the market of cathode ray tubes between 1996/97 and 2006.

Samsung SDI appealed on a variety of grounds, including that sales of products not subject to the cartel should have been excluded from the fine calculation and that it had been discriminated against.

The General Court, the second highest EU court, rejected Samsung SDI's appeal in 2015 and the European Court of Justice upheld that ruling on Thursday, saying it could only reduce the fine if it was inappropriate or excessive.

"That is not the case here," the court said.

Japanese consumer electronics group Toshiba lost a similar appeal in January.

Cathode-ray tubes have largely been replaced by more advanced display technologies such as liquid-crystal display (LCD), and organic light-emitting diodes.

($1 = 0.9477 euros)

Reporting by Philip Blenkinsop. Editing by Jane Merriman

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