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 regulationperipheralsconsumer 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

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Cate Bacon

Aruba Instant On AP11D

The strength of the Aruba Instant On AP11D is that the design and feature set support the modern, flexible, and mobile way of working.

Dr Prabigya Shiwakoti

Aruba Instant On AP11D

Aruba backs the AP11D up with a two-year warranty and 24/7 phone support.

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?