EU court cuts cathode ray tubes fines for Panasonic, Toshiba

September 9, 2015 9:55 AM

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BRUSSELS, Sept 9 Europe's second highest court on Wednesday reduced fines imposed on consumer electronics groups Panasonic and Toshiba for their part in a cartel of cathode ray tube producers, while upholding them for four other companies.

In 2012 the European Commission fined seven companies 1.47 billion euros ($1.64 billion), the EU's largest ever cartel penalty, for two decades of fixing prices, allocating customers and restricting output for CRTs for televisions and for computer screens.

Also read: EU fines 3 banks $520 million over market rigging

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