Philips plans to appeal EU fine for competition violation

Published December 05, 2012

| Reuters

Philips Electronics said on Wednesday it planned to appeal a European Commission fine for violating competition rules in the cathode-ray tubes industry.

Philips, LG Electronics, Samsung SDI and three other firms were fined a record 1.47 billion euros ($1.92 billion) by EU antitrust regulators for fixing prices of cathode-ray tubes in two cartels lasting nearly a decade.

(Reporting by Gilbert Kreijger; Editing by Sara Webb)