Brussels, 11/04/2001 (Agence Europe) - The European Commission authorised the creation of a joint venture between Koninkijke Philips Electronics NV (Philips) and the South Korean company LG Electronic Inc (LGE), which will combine their activities in the cathode ray tubes for televisions and computer screens. Major world actor in the electronics field, the Dutch Philips group is also active in the sector for colour televisions, colour image tubes for televisions and monitors and one-chip circuits for televisions. Present in more than 36 countries. LGE produces consumer electronics goods (televisions, video recorders, refrigerators, etc.) as well as computer products and material (CD-ROM and personal computers among others). The investigation showed that the parties position would not be strong in the market for cathode ray tubes as a whole nor in any of its parts. Moreover, the two groups will have to experienced significant competition from Sony, Matsushita, Toshiba, Thomson and Chungwha. Furthermore, the Commission feels that the parties will have difficulty co-ordinating their behaviour in the downstream markets for television sets and monitors, due to the complementary nature of the respective activities.