April 26, 2024

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[THE INVESTOR] The Court of Justice of the European Union on March 9 upheld a fine of 150.84 million euros (US$159.92 million on South Korean battery maker Samsung SDI over price-fixing charges on its TV and computer screens.

In December 2012, the European Commission imposed the penalty on Samsung SDI and its Malaysian and German affiliates for allegedly fixing prices and allocating customers between themselves from 1996 to 2006 in the TV and computer ray tube markets. 

The companies appealed the decision of an EU court which had ruled in favor of the EC in 2015.

“We have already paid the full amount of penalties. The company has no financial burden moving forward,” a Samsung SDI official said.

The battery maker which withdrew from the ray tube market in 2007 paid the fine in August last year.

By Alex Lee (alexlee@heraldcorp.com)