Toshiba, Sony and Samsung Lose Court Fight Vs. EU Cartel Fine

To read this article from Financial Post, click on:
Toshiba, Sony lose court fight against EU cartel fine
Toshiba, Sony and Samsung Electronics on Thursday lost their court fight against an EU cartel fine levied seven years ago for colluding in procurement tenders for optical disc drives. The European Commission in 2015 fined five companies €116 million ($120.5 million), with the biggest fine of €41.3 million going to Toshiba Samsung Storage Technology, a joint venture of Toshiba and Samsung Electronics. Hitachi-LG Data Storage was fined 37 million euros. Other sanctioned companies were Sony, Sony Optiarc which is a joint venture between Sony and NEC, and Quanta Storage. Philips avoided a fine as it alerted the cartel to the EU competition enforcer.