The story of price collusion in the manufacture of cathode-ray tubes (CRTs) for TVs and computer monitors is coming to an end. LG and Philips could not appeal a major fine imposed by the European Commission.

According to the decision of the European regulator passed in 2012, for more than 6 years, the cartel participants agreed on the prices of the CRTs until the flat-panel liquid crystal and plasma displays replaced the CRT. It is noted that the group operated around the world and was well organized.

Immediately several of the largest manufacturers of LCD panels fixed prices for their products by collusion, thus forcing consumers to purchase TVs, monitors and other products at inflated prices.

Earlier at least seven manufacturers of LCD displays were able to settle such claims in the US. Companies Sharp, Samsung, Chimei Innolux, Hitachi Displays, HannStar, Chunghwa Picture Tubes and Epson Imaging Devices in December 2011 agreed to pay $ 553 million compensation for participating in a price collusion.

Toshiba, Philips, LG Electronics, Panasonic, Samsung SDI and Technicolor were fined in Europe for a total of 1.47 billion euros. Producers tried to appeal the pecuniary punishment in the European court of the highest instance, but attempts were unsuccessful.

The last who were denied an appeal were LG and Philips. Now companies will have to pay about 1 billion euros fine.

On Friday, September 15, LG announced its intention to pay the required amount of 541 million euros. At first it was about 492 million euros, but the company did not pay on time, hoping to appeal the decision. In LG, it was noted that the costs of pecuniary penalties have already been accounted for in past financial statements.

Until recently, the fine of 1.47 billion euros imposed for violating antitrust laws in Europe was the largest. At the end of June 2017, the record was beaten.

Then the European Commission fined Google for 2.4 billion euros for violating EU antitrust rules. The American company is found guilty of abuse of the dominant position in the market of search Internet systems. Google gave 90 days to fix the situation, otherwise it faces the next penalty of 5% of the annual turnover of the parent holding company Alphabet.