LCD Makers Hit with $860M Fine by E.U.
Dec 8, 2010, 1:09 PM by Eric M. Zeman
updated Dec 8, 2010, 3:17 PM
The European Union has levied an $859.6 million fine against a handful of LCD screen makers for fixing prices. The E.U. said a cartel of six companies — including Chimei Innolux, AU Optronics, Chunghwa Picture Tubes, HannStar Display, Samsung and LG Displays — conspired to fix the prices of LCDs. According to the E.U., the companies met 60 times between 2001 and 2006 in order to set minimum pricing and price ranges for their products. Samsung escaped a monetary penalty because it reported the cartel to the E.U. The largest fine was levied against Chimel Innolux ($397M) and the second largest fine was levied against LG Display ($284M).
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Comments
Price fixing
What is your opinion of price fixing, and what level of regulation should be used enforce anti-trust laws?
Hahahaha Samsung! You dirty snitch! You pulled a fast one.
