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LG and Samsung found guilty of LCD price fixing

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

| BREAKING STORY News | Posted: Aug 20, 1722 7:57 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

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