South Korea fines six LCD makers for price fixing
South Korea's antitrust watchdog has fined six LCD makers $176 million for conspiring to artificially inflate prices for flat-screen monitors.
Samsung Electronics and LG Display were among the companies that colluded from 2001 to 2006 to control the prices of panels for TVs and personal computers, the Fair Trade Commission said. The cartel, which also includes AU Optronics, Chimei Innolux, Chunghwa Picture Tubes, and HannStar Display, held 200 secret meetings to discuss cutting or suspending production to prevent prices from declining, the FTC said.
"They colluded on minimum prices of panels, pricing policies on each product type, timing … Read more