I guess it sucks to be LG, Sharp, or Chunghwa Picture Tubes right about now. That’s because the US Justice Department has got these companies by the pubes to plead guilty to fixing the price of LCD display panels. Combined, they’ll have to pony up $585 million. LG’s taking the biggest hit at $400m for conspiring to fix prices from September 2001 to June 2006, while Sharp’s on the hook for $120m for fixes prices on panels sold to Dell, Motorola and Apple during that time frame. That means that Apple fanbois will be pissed.
This doesn’t come as a shock to me as rumors of price fixing have been around for some time. Slashdot reported on this a couple of years ago. So it’s nice to see these companies get nailed. But in my opinion, the best way to punish these companies is to have them pay back the consumers that they ripped off. Now that would really hurt.
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This entry was posted on November 12, 2008 at 9:35 pm and is filed under Commentary with tags Lawsuit, LCD. You can follow any responses to this entry through the RSS 2.0 feed.
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LG, Sharp, Chunghwa Picture Tubes Get Busted For Price Fixing LCD’s…. Pay $585 Million Fine…Life Goes On
I guess it sucks to be LG, Sharp, or Chunghwa Picture Tubes right about now. That’s because the US Justice Department has got these companies by the pubes to plead guilty to fixing the price of LCD display panels. Combined, they’ll have to pony up $585 million. LG’s taking the biggest hit at $400m for conspiring to fix prices from September 2001 to June 2006, while Sharp’s on the hook for $120m for fixes prices on panels sold to Dell, Motorola and Apple during that time frame. That means that Apple fanbois will be pissed.
This doesn’t come as a shock to me as rumors of price fixing have been around for some time. Slashdot reported on this a couple of years ago. So it’s nice to see these companies get nailed. But in my opinion, the best way to punish these companies is to have them pay back the consumers that they ripped off. Now that would really hurt.
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This entry was posted on November 12, 2008 at 9:35 pm and is filed under Commentary with tags Lawsuit, LCD. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.