South Korea fines flat-panel LCD display makers

The Fair Trade Commission said the companies colluded to keep the price of LCD displays artificially high

South Korea's competition watchdog has fined 10 LCD makers a total of 195 billion won ($176 million) for allegedly holding secret meetings to keep the prices for flat screen displays artificially high.

The 10 companies, which collectively held 80 percent market share for LCD screens, held more than 200 secret "crystal meetings" between 2001 and 2006, according to an investigator for the Fair Trade Commission in Seoul. He said prices should have fallen naturally over time.

The companies are Samsung Japan, Samsung Electronics, Samsung Electronics Taiwan, LG Display, LG Display Taiwan, LG Display Japan, AU Optronics, Chimei Innolux Display, Chungwha Picture Tubes and HannStar Display.

Samsung Electronics along with its associated companies in Taiwan and Japan were hit with the largest fine at 97.2 billion won. The three LG units collectively received a 65.5 billion won fine, followed by AU Optronics at 28.5 billion won.

The Korean case mirrors a decision by the European Commission last December. The Commission found LG Display, AU Optronics, Chimei InnoLux, Chunghwa Picture Tubes and HannStar Display guilt of forming a cartel to fix prices between 2002 and 2006.

The Commission's case, which also mentioned the crystal meetings, resulted in fines totaling €649 million (US$865 million). Samsung was also part of the case, but was not fined since it had tipped off the Commission. Chimei Innolux received the largest fine of €300 million, and LG Display was fined €215 million.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags governmentregulationperipheralsconsumer electronicsmonitorsSamsung ElectronicsHannStar DisplayTVsChungwha Picture TubesSamsung Electronics TaiwanLG Display TaiwanSamsung JapanChimei Innolux DisplayAU Optronics Corp.LG Display Corp.LG Display Japan

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jeremy Kirk

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?