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3 Firms Confess To Fixing LCD Prices, Agree To Pay $585M Fine

Posted by timothy on from the win-friends-and-influence-people dept.

Oldyeller89 writes "LG, Sharp, and Chunghwa Picture Tubes pleaded guilty to charges of price fixing in violation of the Sherman Antitrust Act. They fixed the prices on LCD screens used not only in their products but also in other products such as Apple's iPods. The three companies agreed to pay $585 million in fines. Perhaps this will cause the price of our TVs to drop?" The New York Times also has a story on the outcome of this case.

2 of 417 comments (clear)

  1. Re:Ya Know... by randyest · · Score: 5, Informative

    Chunghwa makes panels for Vizio, Syntax, and even Samsung and many others you would expect to have their own panels inside. Even Sony and Sharp have shipped products with Chunghwa panels inside, simply because they're cheaper.

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    everything in moderation
  2. Re:So how much did they make? by spun · · Score: 5, Informative

    Imbalance of information is only one of the three major failure modes of the free market. Externalities both positive and negative, and natural monopolies are the other two.

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    - None can love freedom heartily, but good men; the rest love not freedom, but license. -- John Milton