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

Philips, Infineon lose appeal against EU cartel fines

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

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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