Panasonic to appeal against European Commission decision on cathode ray tubes for TVs

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Panasonic Corp on Saturday announced that the company and its subsidiary MT Picture Display Co have decided to appeal to the European General Court against the decision adopted by the European Commission on Dec 5 on its sale of cathode ray tubes for televisions.

Panasonic said it believes the decision is factually and legally erroneous as it applies to Panasonic and MTPD. Panasonic and MTPD have already exited the CRT business, but will be stating their arguments at court and seeking fair judgment.

The European Commission issued its decision finding that a number of companies, including Panasonic and MTPD, previously participated in an agreement to restrict competition in the sale of the tubes sold in Europe in violation of EU competition law.