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China fines LG Display, Samsung and others over alleged price fixing
Companies embroiled in display price fixing scandals aren't out of the woods just yet. China's National Development and Reform Commission has just fined six manufacturers ¥353 million ($56.7 million) for allegedly colluding on LCD prices, including Korean heavyweights LG Display and Samsung as well as Taiwan-based AU Optronics, Chungwa Picture Tubes, HannStar and Innolux. The accusations behind the latest penalty aren't quite the same as in other countries, but they share a familiar story: China believes the firms agreed to keep costs artificially high between 2001 and 2006, making ¥208 million yuan ($33.4 million) in undeserved profit. While the immediate fiscal damage will be light when it's spread across several companies, it adds to punishment that has already ranged into the hundreds of millions of dollars.
HannStar Display shells out $30m to settle LCD price fixing case
Another day, another company pleading guilty to their role in a massive global price-fixing conspiracy surrounding the MSRP of LCDs. The Taiwan-based HannStar Display agreed (grudgingly, we surmise) this week to cough up a whopping $30 million for its role in the scheme, marking the seventh company to "plead or agree to plead guilty as a result of the department's investigation into the LCD industry." All told, the US Department of Justice has seen some $890 million paid out and 17 executives charged, with HannStar in particular being pegged for violating the Sherman Act during its participation in the conspiracy from September 2001 to January 2006. So, anyone up for being lucky number eight?
Dell joins dog pile, sues five LCD makers over price-fixing allegations
Looks like Dell is getting itself a membership in a club of which AT&T, Nokia, and the US Department of Justice are none too pleased to say they're members. The company has filed suit in a San Francisco court today against four Japanese LCD makers - Sharp, Hitachi, Toshiba, and Seiko Epson - and Taiwan-based HannStar. The crime at hand? None other than the much-chronicled LCD price fixing cartel. At least two of the aforementioned companies (Sharp and Hitachi) have already come forth to admit involvement and pay fines elsewhere, and now it looks like the troubles are still coming for them and others. If only there was some way the companies could band together to increase profits and help pay for these suits... oh, wait.
