LCD Price Fixing Settlement Totals $553M
December 28, 2011 12:54 PM
comment(s) - last by
LCD companies still dispute claims
Companies in the tech world at times resort to some very questionable tactics to maintain or boost profits. Such is the case with some of the largest firms in the technology realm when they conspired between 1999 and 2006 to artificially fix the prices of LCD screen that are used in a variety of electronic devices. LCDs are used in devices like notebooks, smartphones, TVs and more.
The legal drama, fines, and other issues in the LCD market have been ongoing for years now. Sharp and LG were
in part of the price fixing scandal as far back as 2008. The LCD makers embroiled in the case have settled the price-fixing case for a total of $553 million between the guilty parties. The companies that are part of the settlement include Samsung, Sharp, Chimei Innolux Corp, Hitachi Displays Ltd, HannStar Display Corp, Chunghwa Picture Tubes Ltd, and Epson Imaging Devices Corp.
"This price-fixing scheme manipulated the playing field for businesses that abide by the rules, and left consumers to pay artificially higher costs for televisions, computers and other electronics," New York Attorney General Eric Schneiderman said in a statement on Tuesday. The settlement will be dived out between eight states including Arkansas, California, Florida, Michigan, Missouri, New York, West Virginia, and Wisconsin.
Samsung will pay the largest part of the fine at $240 million, Sharp will pay $115.5 million, and Chimei Innolux Corp will pay $110.3 million. Hitachi is on the hook for $39 million, HannStar Display will pay $25.7 million, Chunghwa will pay $5.3 million, and Epson will pay $2.9 million.
The settlement agreement will also see the firms set up antitrust compliance programs. The court still needs to give the final approval to the deal. It's also worth noting that
reports the court documents still show that the firms are disputing the allegations, even though they are settling for millions.
This article is over a month old, voting and posting comments is disabled
RE: Honest question....
12/28/2011 10:06:51 PM
Another honest question from me - did anyone else feel LCD prices were crazy in the times mentioned?
Sure the LCD monitors were high, but CRT monitors were still being sold in 2000. Buying LCD was buying a step up. If all these companies decided to keep prices higher, in a market where the item was a luxury (over CRT), then I think they had good managers as opposed to being part of a scheme to keep prices high.
I can hate on Apples prices and DRM with the best of them, but I just don't find a cause here. Nobody
to have an LCD in the years of this suit.
"There's no chance that the iPhone is going to get any significant market share. No chance." -- Microsoft CEO Steve Ballmer
Sharp, LG to be Sentenced for LCD Price Fixing this Month
December 10, 2008, 1:41 PM
Samsung Adds 2 TB 850 EVO, PRO SSDs for $800, $1000
July 7, 2015, 4:23 PM
Seagate Senior Researcher: Heat Can Kill Data on Stored SSDs
May 13, 2015, 2:49 PM
How to Recover Most Apps After Your NVIDIA Driver Crashes in Windows 10
March 30, 2015, 12:54 PM
Tinkerer Gets Old School Mac Plus Running on the Modern Web
March 24, 2015, 6:41 PM
Facebook-Backed Oculus Rift's Release Date Slips to 2016; Valve and HTC Salivate
March 16, 2015, 5:58 PM
Hackers Steal Roughly $1 Billion From Banks Using Malware RAT
February 17, 2015, 9:30 AM
Most Popular Articles
As iPad Sales Wane and Watch Flops, iPhone Saves Apple's Profit With Its Heroics
July 22, 2015, 6:13 PM
Editorial: Reddit Allows Itself to be Hijacked as a Hate Platform For Racist Bigots
July 21, 2015, 6:32 PM
Microsoft July 29 Windows 10 Launch: Freebies, Rollout, and What's Next
July 21, 2015, 2:40 PM
Quick Note: Apple Watch to Get Brick and Mortar Boost From Best Buy
July 27, 2015, 3:00 PM
Mozilla and Facebook to Adobe: It's Time to Kill Flash
July 20, 2015, 6:30 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information