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

December 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: EU slaps huge fine on South Korea, Taiwan LCD cartel

Related Stories

EU slaps huge fine on South Korea, Taiwan LCD cartel

December 8, 2010

The European Commission has imposed 649 million euros in fines on South Korean and Taiwanese electronics firms for secretly fixing prices of LCD flat screens for Europe's TVs and computers.

US agency examines Sony patent infringement claim

April 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.

Recommended for you

Samsung to disable Note 7 phones in recall effort

December 9, 2016

Samsung announced Friday it would disable its Galaxy Note 7 smartphones in the US market to force remaining owners to stop using the devices, which were recalled for safety reasons.

Swiss unveil stratospheric solar plane

December 7, 2016

Just months after two Swiss pilots completed a historic round-the-world trip in a Sun-powered plane, another Swiss adventurer on Wednesday unveiled a solar plane aimed at reaching the stratosphere.

Solar panels repay their energy 'debt': study

December 6, 2016

The climate-friendly electricity generated by solar panels in the past 40 years has all but cancelled out the polluting energy used to produce them, a study said Tuesday.

0 comments

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.