TweakTown
Tech content trusted by users in North America and around the world
6,139 Reviews & Articles | 39,456 News Posts
Weekly Giveaway: Win an Antec Case, PSU and Cooler (Global Entry!)

LG and Samsung found guilty of LCD price fixing

LG and Samsung found guilty of price-fixing on LCD displays

| BREAKING STORY News | Posted: Jan 7, 2013 6:02 pm

The Chinese government has found Samsung and LG both guilty of price-fixing their LCD panels. The duo were said to be part of a cartel that included AUO, Innolux, Chunga, and HannStar, who were also found guilty of price-fixing.

 

TweakTown image news/2/7/27683_1_lg_and_samsung_found_guilty_of_lcd_price_fixing.jpg

 

During roughly 53 meetings, the cartel is said to have discussed setting prices on their LCD panels in order to obtain higher profits and even out competition.

 

They are said to have divulged confidential information with each other that harmed the legitimate rights and interests of the domestic colour TV enterprises and consumers. This isn't the first time the "Cartel" has been found guilty of price-fixing. A similar ruling was passed down by the Korean Fair Trade Commission in 2011.

NEWS SOURCES:News.techeye.net

Related Tags

Further Reading: Read and find more BREAKING STORY news at our BREAKING STORY news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases