The JFTC announced on 7 October that it had imposed fines totalling ¥3.32 billion ($37 million) on Samsung SDI Malaysia, LG Philips Displays Korea and three subsidiaries of Panasonic for their participation in a price-fixing cartel. Samsung SDI and one of Panasonic's subsidiaries were also issued cease and desist orders. The companies allegedly met every two months from 2003 to jointly set minimum target prices for cathode-ray tubes used in the manufacture of television sets.