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Thursday, May 23, 2024 | Back issues
Courthouse News Service Courthouse News Service

Samsung Admits to Fixing Cathode Ray Tube Prices

SAN FRANCISCO (CN) - Samsung SDI will pay a $32 million fine after pleading guilty Monday to a one-count felony charge that it participated in a global price-fixing conspiracy.

The Korean technology giant to having fixed prices, reduced output and allocated market shares of computer monitor cathode ray tubes.

Federal authorities charged Samsung in San Francisco with one felony count in connection to the conspiracy on Monday. The indictment states that Samsung's conspiracy over color display tubes ran from January 1997 to March 2006.

The charges stemmed from an ongoing cathode ray tube investigation that has resulted in charges against six individual co-conspirators since 2009, according to the Justice Department.

Samsung was accused of working with the co-conspirators to fix color display tube prices. As part of the conspiracy, they also reduced color display tube output by temporarily shutting down production lines.

The co-conspirators allegedly met in Asian countries like Taiwan, Korea, Malaysia and China to exchange information about color display tube sales, production, market share and pricing.

Samsung faced a maximum penalty of $100 million for violating the Sherman Act, and the fine could have been increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either of those amounts exceeded than $100 million.

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