posted Nov 9th 2012 2:58PM 
Samsung SDI, Philips, LG, Technicolor, Panasonic and Toshiba are said to be facing heavy fines from the European Commission due to alleged involvement in a TV cathode-ray tube price fixing ring. According to Reuters, the fines will be announced on November 28th and can reach up to ten percent of the turnover during the period which the cartel was said to have ran. Based on 2011 revenues, LG could be fined up to $5 billion, while Dutch-based Philips would top out at around $2.9 billion. While the fines aren't expected to reach such heights, it will definitely take more than a few Black Friday blowout sales to recover this type of coin.
Written by Dilusha
We are Creative Blogger Theme Wavers which provides user friendly, effective and easy to use themes. Each support has free and providing HD support screen casting.
0 comments:
Post a Comment