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Philips, Infineon lose appeal against EU cartel fines
December 15, 2016 / 9:05 AM / 9 months ago

Philips, Infineon lose appeal against EU cartel fines

The logo of Philips is seen at the company's entrance in Brussels September 11, 2012. REUTERS/Francois Lenoir

LUXEMBOURG (Reuters) - Philips (PHG.AS) and Infineon (IFXGn.DE) lost an appeal on Thursday against a combined 102.9 million euro (86 million pound) cartel fine after a European court said EU antitrust regulators was correct to find they had fixed prices of smart card chips.

The European Commission in its 2014 decision handed down a total fine of 138 million euros to Philips, Infineon and Samsung (005930.KS) for operating a smart card chip cartel in Europe. Infineon’s penalty was 82.78 million and Philips’ 20.15 million.

Renesas escaped a fine because it alerted the cartel to the authorities. Smart card chips are used in bank cards, telephone SIM cards and identity cards.

The Luxembourg-based General Court, Europe’s second-highest, dismissed the companies’ appeal and upheld the fines.

“The Court states that the Commission was correct to find that Philips and Infineon had participated in anti-competitive practices,” judges said.

The companies can take their case to the Court of the European Union but only on points of law.

The cases are T-758/14 Infineon Technologies AG v Commission and T-762/14 Koninklijke Philips NV and Philips France v Commission.

Reporting by Philip Blenkinsop and Foo Yun Chee; editing by Susan Thomas

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