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[Washington Post] EU imposes $1.9 billion cartel fine on screen producers including Philips, LG, Panasonic - Page 2

post #11 of 13
Quote:
Originally Posted by geoxile View Post

Ending in 2006?
As in over half a decade ago?

In other words 5 years.... Yes that's corrct
post #12 of 13
For me it's kind of a moral gray area. Why is the EU concerned with the price of a luxury item? It's not like the ADM lysine price fixing that you could argue was affecting the cost of food production. Honestly, the $2bil is probably way way way less than lost revenue from price wars. Who knows if all of those companies would have survived. Then how many lost jobs does that cause. Probably won't be much argument from the companies involved, they still came out ahead.
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post #13 of 13
Quote:
Originally Posted by LunchboxDDS View Post

Why is the EU concerned with the price of a luxury item?

Because they made laws about how businesses have to go about competing with each other. The European governments defend free market capitalism to their voters by pointing out that when businesses compete the ultimate benefit is to the consumer because they pay the lowest prices. If then these businesses fix their prices and in essence stop actually competing, they break these laws, and ultimately erode belief in free market capitalism.
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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