Printed from http://www.electronista.com

EU charges LCD makers with price fixing

updated 03:10 pm EDT, Mon July 13, 2009

LCD makers price fixing

The European Union's antitrust regulators have charged Philips Electronics, LG Display and a number of smaller, unnamed LCD makers with corroborating on fixing the price of LCD monitors, Philips announced on Monday. According to a Monday report, the EU antitrust regulators began their investigation in 2006, along with their US counterparts, and has now concluded that the involved firms knowingly kept pricing high. Philips said it would vigorously fight the accusation and claimed that it sold all of its shares in LG Display in March, eliminating possible incentives to illegally collaborate in the future.

Last November in the US, LG Display, Sharp, Chunghwa Picture Tubes and Hitachi pleaded guilty to price fixing and paid out nearly $600 million in fines for colluding to unfairly set the prices of LCD monitors sold to the manufacturers of computers, phones and music players. South Korea and Japan have also launched their own investigations.

Many of these companies have been concerned about rapidly shrinking profit margins on LCDs as the technology becomes commoditized and reduces competition to a matter of price. Fixing is often believed to be a means of stalling these price drops until absolutely necessary.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News