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LG, Sharp, CPT fined $585 million for price fixing

Post Date: 2008-11-13
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skyR View Drop Down
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Posts: 2220 		  Quote skyR Quote  Post ReplyReply bullet Topic: LG, Sharp, CPT fined $585 million for price fixing
    Posted: 13 Nov 2008 at 2:13am
Three leading LCD panel makers, LG Display (LGD), Sharp, and Chunghwa Picture Tubes (CPT), have agreed to plead guilty and pay a total of US$585 million in criminal fines for their roles in conspiracies to fix prices in the sale of LCD panels, the US Department of Justice has announced.

Of the US$585 million in fines, LGD (LGD) will pay US$400 million, the second highest criminal fine ever imposed by the department's Antitrust Division.

LGD agreed to plead guilty to participating in a conspiracy from September 2001 to June 2006 to fix the price of TFT-LCD panels sold worldwide.
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bradesco View Drop Down
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Posts: 191 		  Quote bradesco Quote  Post ReplyReply bullet Posted: 13 Nov 2008 at 2:18am
Damn that sucks. Good thing Im going with Acer...

PS Boa is hot but Im an Lee Hyori fan myself.. o_O
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Mezzeron View Drop Down
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Posts: 212 		  Quote Mezzeron Quote  Post ReplyReply bullet Posted: 13 Nov 2008 at 10:42am
Hmmm...i just bought an LG 24" about a month ago..wonder if there will be any kickbacks to consumers?
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Kliebor2 View Drop Down
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Posts: 659 		  Quote Kliebor2 Quote  Post ReplyReply bullet Posted: 13 Nov 2008 at 1:15pm
What name brand you went with has little to do with it as in many industries relatively few players (read into this 1 or 2) control many of the parts and technologies needed to build the item in question and are often sole sources.

Thus price fixing by a major player like LG, will influence not just LG displays but every other brand as they force higher than normal pricing for needed components required to produce the commodity.

And in all likelyhood, no, you will not likely see consumer level kickback, most likely the funds will go to the various agencies prosecuting the case to cover costs and to repay companies defrauded by manufacturers of components.

Usually the way these things go. The only way consumers will see any pennies from this is if some laywer manages to get class action status established for a lawsuit against a manufacturer, which is very hard to do.

Dave Ouch


Edited by Kliebor2 - 13 Nov 2008 at 1:16pm
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