LG Electronics to pay $645 million for rigging prices

Home > Business > Industry

print dictionary print

LG Electronics to pay $645 million for rigging prices

LG Electronics said Friday it plans to pay a fine of 541 million euros ($645 million) levied by the European Commission for rigging prices on its cathode ray tubes.

The company said its appeal of the EC’s fine was recently rejected by a European court.

In 2012, the European regulator fined LG Electronics and five other companies, including Philips and Panasonic, a total of 1.47 billion euros, claiming their executives colluded to fix prices in two global cartels between 1996 and 2006.

At that time, the commission slapped a 492 million-euro fine on LG, but the final amount includes the interest on its delayed payment. Yonhap
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)