Taiwan’s Fair Trade Commission said on Wednesday it is imposing a record fine for price-fixing of $5.8 billion New Taiwan dollars ($176 million) on several Japanese electronic component suppliers, together with a U.S. competitor.
The commission charged Nippon Chemi-con, Rubycon, ELNA, Sanyo, Nichicon, NEC Tokin, Matsuo Electric, and U.S.-based Vishay Polytech with colluding over the past 10 years to manipulate the market. Spokesmen for the companies were not immediately available for comment.
The companies supply aluminum and tantalum capacitors to electronics manufacturers. The components are mainly used in to make devices such as power supply units, personal computers, home appliances, smartphones and game consoles.
“The manipulation of prices led to a higher-than-expected material cost for electronics makers in Taiwan, which could have a negative impact on local companies’ profits,” said Chiu Yung-ho, vice chairman of the commission.
According to the antitrust watchdog, the suppliers generated sales from the Taiwan market totaling NT$66 billion ($2 billion) over the 10 years they are accused of having worked together to set prices. Taiwanese officials said they have been working closely together with authorities in the U.S., the European Union and Singapore on the case.
Full content: Taipei Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI