Taiwan tech giant says EU price-fixing fine 'unfair'

Dec 10, 2010
Terry Gou, founder of Taiwan's Hon Hai Precision Industry Co., pictured in June 2010. Taiwanese IT firm Hon Hai Precision said Friday a huge fine imposed by the European Commission on its affiliate Chimei Innolux Corporation for price-fixing was "unfair" and "too high".

Taiwanese IT firm Hon Hai Precision said Friday a huge fine imposed by the European Commission on its affiliate Chimei Innolux Corporation for price-fixing was "unfair" and "too high".

Hon Hai Chairman Terry Gou also said the fine would hurt Chimei's this year, after he met European Union representatives in Taipei.

He said Chimei was still considering appealing the fine.

The on Wednesday slapped fines totalling 649 million euros (860 million dollars) on five Taiwanese flat panel makers and on one South Korean firm. Chimei was hit with the largest fine -- 300 million euros.

The Commission's competition watchdog accused the firms of running a cartel between October 2001 and February 2006 that fixed prices, harming European buyers of televisions and computers equipped with .

Gou owns 2.9 percent of Chimei Innolux, while Hon Hai and its subsidiaries also have stakes in the company.

Taiwan's AU Optronics has said it will appeal against the fine in the General Court in Luxembourg but added that the fine is not expected to affect its operations.

The other Taiwanese firms have said they are considering whether to appeal and that the fines are unlikely to have any major impact on their operations.

Explore further: China's Xiaomi raises more than $1 bn in funding

add to favorites email to friend print save as pdf

Related Stories

US agency examines Sony patent infringement claim

Apr 16, 2010

A US trade agency has launched a probe into Sony Corp's claims that several companies, including two major computer monitor makers in Hong Kong and Taiwan, infringed on its patents for display devices.

EU fines Samsung, nine other chip makers over cartel

May 19, 2010

The EU Commission fined the world's biggest memory chip makers, including Samsung, Infineon and Toshiba, a total of 331 million euros (403 million dollars) on Wednesday for operating a cartel.

Recommended for you

China's Xiaomi raises more than $1 bn in funding

23 hours ago

China's top smartphone seller Xiaomi Corp. is raising more than $1 billion in a fresh round of funding, a move which would raise its valuation above $45 billion, a report said Sunday.

Why the Sony hack isn't big news in Japan

Dec 20, 2014

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

Dec 20, 2014

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

Dec 20, 2014

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

Dec 19, 2014

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.