LG Display, Sharp, and Chunghwa plead guilty to LCD price fixing
In the “interesting but not surprising” category, the Department of Justice announced today that LG Display Co, Sharp, and Chunghwa Picture Tubes have agreed to plead guilty on criminal charges that they participated in LCD price fixing conspiracy and will pay a total of $585 million in fines. The three companies were accused of collaborating together to set prices for TFT LCD panels from 2001 till 2006 – many of which were then sold to hardware companies such as Apple, and Dell. Here’s how the fines broke down:
LG Display agreed to pay $400 million dollars; Sharp agreed to pay $120 million dollars, and Chunghwa agreed to pay $65 million dollars in fines.
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