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LG Responds to EC Decision on CRT Displays LG Responds to EC Decision on CRT Displays
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LG Responds to EC Decision on CRT Displays
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Old 6th December 2012, 09:04   #1
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Default LG Responds to EC Decision on CRT Displays

LG Electronics Inc. confirms that it has been imposed an administrative fine of 491,567,000 by the European Commission for allegedly infringing European competition law with regard to the sale of cathode ray tubes in the late 1990s and up to 2006. LG Electronics is currently reviewing the European Commission's decision with the intention to appeal the decision.

The European Commission contends that LG Electronics is liable for the period prior to July 2001 when it made and sold cathode ray tubes in addition to a period after that date, even though it had transferred its cathode ray tube business to LG Philips Displays, a joint venture between LG Electronics and Royal Philips Electronics NV. In 2006, LG Philips Displays went bankrupt.
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