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Sharp will pay $120 million in fines for price fixing

When the economy around the world first starting showing signs of serious trouble some firms took illicit measures to preserve their income streams. These illicit methods involved price fixing and one of the high profile cases of price fixing came from the LCD industry.

DailyTech reported in November that three of the largest LCD manufacturers in the world -- Sharp, LG, and Chunghwa Picture Tubes -- had all pled guilty to price fixing in the LCD industry. At the time, the fines levied against the three firms totaled $548 million with Sharp footing the lion's share of the fine at $400 million.

The U.S. Justice Department has announced that Sharp and LG will be sentenced in mid-December. Reuters reports that LG will be sentenced on December 15 and will pay the $400 million fine previously reported. Sharp will be sentenced on December 16 and will be fined $120 million. The exact amount of the fine levied against Sharp was unknown when DailyTech first reported fines were levied.

Sentencing for the two firms is set for the U.S. district court in San Francisco. No mention has been made on the fines that the third company embroiled in the scandal -- Chunghwa Picture Tubes -- will have to pay or when sentencing will take place. All three firms are said to be cooperating with European and Asian antitrust authorities.



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Lower Prices?
By King of Heroes on 12/10/2008 2:21:28 PM , Rating: 2
Now that the fixing has been exposed, could this possibly result in lower prices for non-TN panel types? I know LG is the sole manufacturer for *IPS panel technology, and since they seem to be ringleader for this, could we see a lowering of IPS monitor prices to actual competitive levels?




RE: Lower Prices?
By fleshconsumed on 12/10/2008 3:28:30 PM , Rating: 2
Would be nice. It's difficult to justify paying 2x premium for non-TN panel.


RE: Lower Prices?
By n00bxqb on 12/11/2008 2:35:03 AM , Rating: 2
LG isn't the sole manufacturer of IPS panels. Most popular by a long shot, but not the lone wolf by any means. Hitachi, NEC, and Mitsubishi all make IPS-based panels as well.


RE: Lower Prices?
By daar on 12/11/2008 3:14:34 AM , Rating: 2
Perhaps sole manufacturer of high end IPS displays then. Even NEC uses LG panels for their UXi professional graphics display line.


"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer

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