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[Washington Post] EU imposes $1.9 billion cartel fine on screen producers including Philips, LG, Panasonic

post #1 of 13
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Quote:
The European Union has imposed a massive fine of almost €1.5 billion ($2 billion) on seven international companies for fixing the market of television and computer monitor tubes for a decade ending in 2006.

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post #2 of 13
Since the money from the fines is going to be shared among the European governments, I am sure they will be welcoming the extra cash .I would not be surprised though if the companies would be offsetting the cost of the fines with an extra round of cuts somewhere in the world. I wonder what part of the world they will be cutting jobs... thinking.gif
post #3 of 13
I hope this won't show up as price increases for consumers.
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post #4 of 13
or they will just raise lcd prices, either way the little guy ends up getting screwed.


Problem is you still have some people that think authoritarianism is the way to go
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post #5 of 13
Fighting against pricefixing ≠ authoritarianism.

What happened here is that a group of companies got together to line their own pockets and screw the consumer. I applaud that they want to do something against the companies that do this, I am just a bit cynical about the impact of the fines. Not sure what else they could do though.
post #6 of 13
Quote:
Originally Posted by seepra View Post

I hope this won't show up as price increases for consumers.
If it did, all I could hope for is further enragement from the EU and steeper consequences.
post #7 of 13
As said, the companies will just pass the buck and not care. If governments wanted to actually punish wrongdoing (and not simply grab cash) they would throw all the ceo's and major stockholders in prison.

Can't actually punish the rich people for their wrongdoing though, so a perfect way of appearing to punish the companies is to levy fines that will simply be offloaded onto the general public.
post #8 of 13
Ending in 2006?

As in over half a decade ago?
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post #9 of 13
Quote:
Originally Posted by seepra View Post

I hope this won't show up as price increases for consumers.

Of course it will.
post #10 of 13
I was looking for another 1440p monitor and yeah, prices are already higher...LG panels anyone?
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Overclock.net › Forums › Industry News › Hardware News › [Washington Post] EU imposes $1.9 billion cartel fine on screen producers including Philips, LG, Panasonic