Electronic firms fined €1.47bn by EU

Royal Philips Electronics and LG Electronics are among companies fined a record €1.47bn by EU anti-trust regulators over price-fixing agreements of now-obsolete cathode-ray tubes used in televisions and computer monitors.

Philips was fined €313.4m while LG faces a €295.6m penalty, said the European Commission yesterday.

Philips and LG also share a fine of €391.9m for a unit they jointly owned.