Welcome!

Wireless Authors: Karyn Price, Andrew Mathew, Ian Thain, AfterLogic Team, Nazli Ekim

Related Topics: Wireless

Wireless: Article

LCD Companies Plead Guilty to Price Fixing

Will cooperate with the DOJ's continuing antitrust investigation
By Maureen O'Gara
Article Rating:
November 13, 2008 01:15 PM EST
Reads:
 1,572

LG, Sharp and Chunghwa have pled guilty to charges of fixing the price of LCD panels in defiance of the Sherman Antitrust Act and have agreed to pay $585 million in fines, the Justice Department said Wednesday.

LG will pay $400 million, the second-highest criminal fine ever imposed by the DOJ's Antitrust Division.

Sharp will pay $120 million and Chunghwa Picture Tubes Ltd, a Taiwanese manufacturer, will pay $65 million.

The companies have agreed to cooperate with the DOJ's continuing antitrust investigation.

Thin-Film Transistor-Liquid Crystal Display (TFT-LCD) panels are used in computer monitors, notebooks, televisions and mobile phones. In 2006, the worldwide market for TFT-LCD panels was approximately $70 billion, the agency said.

Other than jack up the prices consumers paid between 2001 and 2006, the DOJ identified companies directly affected by the price-fixing schemes as Apple (iPod), Dell (monitors and laptops), and Motorola (Razr).

Published November 13, 2008 – Reads 1,572
Copyright © 2008 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.

About Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.