3 major LCD TV manufacturers caught price fixing!

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Ky
Posts: 181
Joined: Tue Apr 18, 2006 8:36 pm

3 major LCD TV manufacturers caught price fixing!

Post by Ky »

WASHINGTON (CNN) -- Three major electronics manufacturers have agreed to plead guilty to a price-fixing conspiracy and pay $585 million in criminal fines for their roles in the pricing of LCD display panels, the Justice Department said Wednesday.

The department announced the plea agreement following a settlement with Sharp Corp. of Japan; LG Display Co. (LPL) of South Korea and Chunghwa Picture Tubes of Taiwan.

The plea deals were filed in U.S. District Court in San Francisco, California, and announced by Thomas Barnett, Assistant Attorney General for Antitrust at the Justice Department in Washington.

"These price-fixing conspiracies affected millions of American consumers who use computers, cell phones and numerous other household electronics every day," said Barnett. He declined to estimate losses stemming from the price fixing, but said he expected to provide some measure of the damages when the corporations are sentenced.

http://money.cnn.com/2008/11/12/news/in ... 2008111216
This explains why the price of LCD’s hasn’t followed the typical technology price decline.


tewage
Posts: 110
Joined: Sat Oct 11, 2008 5:52 am

Post by tewage »

Good find, I hate stuff like this. They make billions and still try to cheat you.
thetarget
Posts: 496
Joined: Sat Jul 09, 2005 9:10 am

Post by thetarget »

Finally, all it takes is one investigative reporter.
tewage
Posts: 110
Joined: Sat Oct 11, 2008 5:52 am

Post by tewage »

That's what they get, I must have been something big...I know they're feeling really stupid they got caught.
Gebbo
Posts: 554
Joined: Tue May 16, 2006 3:22 pm

LCD

Post by Gebbo »

hmmmm interesting fine lol, checked it out.. :P
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