The European Commission (EC) fined seven companies including Philips a total of €1.47 billion ($1.92 billion) for participating in either one or both of two distinct cartels in the sector of cathode ray tubes (CRTs). The EC alleged that between 1996 and 2006 the companies fixed prices, shared markets, allocated customers between themselves, and restricted their output. One cartel involved color picture tubes used for televisions; the other cartel involved color display tubes used in computer monitors. The EC found Philips participated in both cartels. The EC fined Philips €313 million ($410 million) and a Philips-LG Electronics joint venture €392 million ($513 million).