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AT&T sues LG, Samsung, others alleging LCD price-fixing 'conspiracy'
A cellphone without an LCD isn't much of a cellphone. Alright, yes, there are exceptions to the rule, but generally speaking, LCDs still rule the industry, which makes it a ripe target for nefarious price-fixing schemes to take root -- something that LG and Sharp are well-acquainted with coming off a stinging half-billion dollar verdict last year. All the talk of artificially inflated display pricing recently must've spooked AT&T, because they've gone ahead and filed a lawsuit in San Francisco today alleging that LG, Samsung, Chunghua, AU Optronics, and others all conspired to boost component prices during a period in which the carrier bought some 300 million handsets. That's a boatload of phones -- several times AT&T's total subscriber base -- and we're guessing the result could be a significant cash outlay if they're successful with the suit. Does this mean free Mythics for everyone? [Via Phone Scoop]
LG, Sharp plead guilty to LCD price-fixing, take $585m fine
Allegations of LCD price-fixing have been swirling around for years now, and it looks like at least some of the companies involved have dirt on their hands -- LG, Sharp and Chunghwa Picture Tubes have all just pled guilty to price-fixing in a case filed by the US Department of Justice and will pay a combined $585m fine. LG's taking the biggest hit at $400m for conspiring to fix prices from September 2001 to June 2006, while Sharp's on the hook for $120m for jacking prices on panels sold to Dell, Motorola and Apple during the same time frame. Naughty, naughty. It also sounds like this plea agreement is more than just a sterile attempt to cut losses -- Sharp's exec staff is taking a 10 to 30 percent pay cut for three months as punishment to reassure its shareholders. Sounds like a plan -- how about refunding some of that cash to us chumps out here buying your overpriced products?
