BRUSSELS, BELGIUM: European Union regulators on Thursday formally charged Dutch electronics giant Philips and other manufacturers of cathode ray tubes (CRT) of forming a cartel aimed at inflating the price of television sets and computer monitors.

The announcement by the European Commission in Brussels follows surprise raids carried out at the manufacturers' premises in November 2007, when CRT screens were still widely available.

While EU regulators did not name any specific company, Philips confirmed receiving a "statement of objections" from the commission. It also vowed to cooperate in the investigation.

"Philips will study the statement of objections in detail and will prepare its response," Philips said in a statement issued by its headquarters in Amsterdam.

"Philips takes the investigations into possible violations of these laws very seriously. The company intends to continue assisting the regulatory authorities in these investigations," the company said.

EU Competition Commissioner Neelie Kroes, who is Dutch, has in recent years slapped fines worth billions of euros on companies found guilty of forming anti-competitive cartels.

Since the spread of more energy-efficient flat-panel displays, CRT screens are no longer easily available in shops.
©IANS