Philips confirms cathode ray cartel probe

Wednesday 21 November 2007

Philips said on Wednesday it will cooperate with an investigation by anti-cartel officials into possible 'anti-competitive activities' in the cathode ray tube industry.

Philips, which stopped producing the screens directly in 2001, said it takes the investigation 'very seriously'.

European Commission officials raided a number of television screen makers earlier this month. According to the NRC newspaper, the South Korean and Japanese anti-cartel authorities are also involved.

Samson and Panasonic have admitted they are also under investigation, the paper said.

Philips put its cathode ray tube activities into a joint venture with South Korean firm LG in 2001. That company, LG Philips Displays, went bankrupt in 2006.

© DutchNews.nl

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