Samsung, others shell out money

old-school-tvCathode ray tubes (CRTs) are over 100 years old but it seems they still have the ability to stir the hearts and minds of people.

That much is clear after five of the biggest display companies in the world agreed to pay over half a billion dollars to settle a US class action.

Samsung, Philips, Panasonic, Hitachi and Toshiba all agreed to pay a total of $528 million.

The companies had conspired to price fix CRTs in the marketplace. Four years ago, antitrust authorities looked into the price fixing allegations.

Samsung put its hands up in the air then and pleaded guilty to the charges.

Samsung’s share of the bill amounts to $225 million, which will be doled out to people in the USA who joined the class action.