Manufacturers of LCD panels will pay 585 million dollars for participating in a conspiracy
Three Asian companies pleaded guilty and will pay 585 million dollars fine for violation of competition law, voiced their conspiracy to keep high prices for LCD panels used in monitors, TVs, cellular phones and other electronic devices.
LG Display, Sharp and Chunghwa Picture Tubes agreed to cooperate in anti-monopoly investigation, led by the U.S. Department of Justice. According to the law, conspiracy struck afford not only consumers but also suppliers of products such as Dell, Motorola and Apple Computer. The amount of loss is not named because the investigation is still ongoing.
South Korean company LG Display and its American affiliate LG Display America will pay $ 400 million for participating in a conspiracy aimed at fixing prices for the period from September 2001 to June 2006. Incidentally, this is the second-largest fine ever imposed by the antitrust division of U.S. Department of Justice.
Japanese group Sharp will pay $ 120 million for participating in a conspiracy aimed at fixing prices on certain products supplied to Dell, Motorola and Apple, between 2001 and 2006. Another 65 million dollars agreed to pay the Taiwanese company Chunghwa.
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December 8th, 2008 at 7:05 pm
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