Saturday, July 14, 2012

LG Settles LCD Price-fixing Case

LG Display has concluded to pay $380m (246m) to solve an LCD row price-fixing box in the US.

The firm denied carrying out anything wrong, but mentioned it had concluded to a agreement to prevent "the responsibility and weight of prolonged litigation".

It was the largest amount paid by any of the 10 companies that have staid the case, inclusive Toshiba, Samsung, Sharp and Hitachi.

They were indicted of regulating the prices of LCD panels between 1996 and 2006.

The allowance will go to US consumers and state governments. The purported cost regulating would have increased the prices of gadgets using LCD displays such as televisions and laptop computers.

Samsung paid $240m to solve the box in December, whilst Toshiba is to pay $21m and AU Optronics is to pay $170m.

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