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LG and Samsung found guilty of LCD price fixing

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

By Charles Gantt on Jan 7, 2013 at 12:02 pm CST - 0 mins, 35 secs reading time

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.

LG and Samsung found guilty of LCD price fixing | TweakTown.com

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.

Last updated: Nov 30, -0001 at 12:00 am CST

Charles Gantt

ABOUT THE AUTHOR - Charles Gantt

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

NEWS SOURCE:news.techeye.net

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