EU launches antitrust charges against Philips

21:31, November 26, 2009      

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The European Commission on Thursday launched antitrust charges against a number of companies producing TV and computer monitor tubes, including Royal Philips Electronics.

"The European Commission can confirm that in November 2009 it has sent a statement of objections to a number of companies active in the cathode ray tubes (CRT) industry, concerning their alleged participation in two separate cartels," the European Union (EU)'s antitrust watchdog said in a statement.

A statement of objections is a formal step in the EU' s antitrust investigations in which the commission informs the parties concerned in writing of the charges raised against them.

The commission's investigation focuses on two types of cathode ray tubes, namely color display tubes used in computer monitors and color picture tubes used in color television sets.

Dutch electronics giant Philips said in a statement that it had received the charges and "intends to continue assisting the regulatory authorities in these investigations."

If found guilty, those companies would face fines as high as ten percent of their annual global turnover.

Source: Xinhua
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