Korea investigates 10 companies for LCD price fixing
updated 08:25 pm EDT, Thu September 22, 2011
Scope of investigation larger than expected
South Korea's antitrust regulator, the Fair Trade Commission (FTC), has detailed the scope of an investigation into alleged price fixing by LCD manufacturers. The FTC is investigating a total of ten vendors. Last month, it revealed that it had found that Samsung, LG, and Chimei Innolux had colluded to fix LCD panel prices.
The FTC has not yet imposed penalties on these three display makers. It has also not divulged the identities of the seven other manufacturers under investigation. The reach of the investigation isn't limited to South Korean companies, however. Vendors from other countries, including Taiwan, are also under scrutiny.
The FTC investigation follows on the heels of a similar investigation by European regulators who, in December, found six LCD makers had colluded for almost five years. Those vendors were fined a total of €649 million ($881 million).
LCD display makers are not the only component manufacturers under investigation. The FTC, in a separate investigation, is also probing possible anti-competitive practices by five TV tube creators.
