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: Uber says outside review shows customer data safe, private

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

Airbnb to expand tax collection efforts

Jan 30, 2015

Online lodging operator Airbnb is expanding its efforts to collect local taxes, responding to complaints that it competes unfairly with the hotel sector.

Jay Z to acquire Wimp music service

Jan 30, 2015

US rap star Jay Z will make a $56-million foray into the music streaming business by taking over the Norwegian service Wimp, its shareholders confirmed Friday.

How can Google snap its stock out of its stupor?

Jan 30, 2015

Google has turned into a stock market laggard as the shift to mobile devices has lowered the Internet search leader's digital ad prices and the company's expensive investments in far-out technology has trimmed ...

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.