You do remember the LCD price fixing we’ve been talking about a few weeks ago, don’t you? Well it looks like the U.S. Justice Department has uncovered more price fixers involved in the price-fixing scheme which began in 2001.
Former Chunghwa Picture Tubes Ltd executives and a former LG Display Co Lt executive have been indicted by the Justice Department. The three former executive seemed to have conspired with other conspirators to suppress and eliminate competition by fixing prices for TFT-LCD panels. They are Cheng Yuan Lin and Wen Jun Cheng and Duk Mo Koo.
In the mean time LG has agreed to pay a fine of $400 million, Chunghwa $65 million and Sharp $120 million as they have all pleaded guilty to illegal price fixing. What will happen next? We’ll keep you appraised!