Breaking News

Samsung announces Galaxy XR headset Leica M EV1 – the first M-Camera with an integrated electronic viewfinder Micron Delivers Industry’s Highest Capacity SOCAMM2 for Low-Power DRAM in the AI Data Center KIOXIA launches EXCERIA PLUS G3 and EXCERIA G3 microSD cards for exceptional photography and video performance CORSAIR Adds Rugged Performance and Mobile Convenience to Its Storage Portfolio

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

LG, Sharp, Chunghwa Say Guilty in LCD Case

LG, Sharp, Chunghwa Say Guilty in LCD Case

Consumer Electronics Nov 13,2008 0

Three leading electronics manufacturers - LG Display Co. Ltd., Sharp Corp. and Chunghwa Picture Tubes Ltd. - have agreed to plead guilty and pay a total of $585 million in fines for fixing prices of LCDs used in a wide variety of electronics, the U.S. Justice Department said Wednesday. The charges were filed in U.S. District Court in San Francisco. The companies have agreed to cooperate with the Department's ongoing antitrust investigation.

Companies directly affected by the LCD price-fixing conspiracies are some of the largest computer, television and cellular telephone manufacturers in the world, including Apple, Dell and Motorola, according to the U.S. Justice Department.

LG Display Co. Ltd, and its wholly-owned subsidiary, LG Display America Inc., agreed to plead guilty to participating in a conspiracy from September 2001 to June 2006 to fix the price of TFT-LCD panels sold worldwide. During the conspiracy, LG Display Co. Ltd. was known as LG.Philips LCD Co. Ltd. (a joint venture between LG Electronics and Philips Electronics) and LG Display America Inc. was known as LG.Philips LCD America Inc.

Sharp Corp.,has agreed to pay a $120 million fine for its participation in separate conspiracies to fix the price of TFT-LCD panels sold to Dell Inc. from April 2001 to December 2006 for use in computer monitors and laptops; to Motorola . from fall 2005 to the middle of 2006 for use in Razr mobile phones; and to Apple from September 2005 to December 2006 for use in iPod portable music players.

Chunghwa, a Taiwanese TFT-LCD panel manufacturer, has agreed to pay a $65 million fine for its participation with LG and other unnamed co-conspirators in a conspiracy from September 2001 to December 2006 to fix the price of TFT-LCD panels sold worldwide.

Of the $585 million in fines, LG will pay $400 million, the second highest criminal fine ever imposed by the Department's Antitrust Division.

Sharp posted on its Web site that it "understands the gravity of this situation and will strengthen and thoroughly implement measures to prevent the recurrence of this kind of problem."

It also said that Sharp's chairman and CEO and some directors would return 10 to 30 percent of their compensation for three months starting in December.

The company said it would record the fine, which it estimated at 12 billion yen, as extraordinary expenses for the Oct. 1 to Dec. 31 period.

These pleas are the result of a joint investigation by the Antitrust Division's San Francisco Field Office and the Federal Bureau of Investigation in San Francisco. The plea agreements are subject to court approval.

Tags: LG ElectronicsSharpLCD displays
Previous Post
Intel's Fourth-Quarter Business Below Expectations
Next Post
Microsoft Introduces Updated Windows Live Services

Related Posts

  • LG releases QNED MINI LED TVs, setting a new standard for LCD picture quality

  • LG Electronics announces 31.5-inch 4K organic EL display 32EP950-B

  • LEICA CAMERA AG AND SHARP CORPORATION ANNOUNCE TECHNOLOGY PARTNERSHIP IN THE SMARTPHONE PHOTOGRAPHY SEGMENT FOR THE JAPANESE MARKET

  • LG rolls out 2021 TV lineup with OLED TVs and Mini-LED TVs

  • LG Electronics' 'Wing' Smartphone Said to Have a Swivelling Display

  • Sharp Cuts Full-year Profit Forecast as Virus Impacts Demand

  • LG Velvet Smartphone Officially Launched in South Korea

  • LG Launches 2020 Sound Bars

Latest News

Samsung announces Galaxy XR headset
Consumer Electronics

Samsung announces Galaxy XR headset

Leica M EV1 – the first M-Camera with an integrated electronic viewfinder
Cameras

Leica M EV1 – the first M-Camera with an integrated electronic viewfinder

Micron Delivers Industry’s Highest Capacity SOCAMM2 for Low-Power DRAM in the AI Data Center
Enterprise & IT

Micron Delivers Industry’s Highest Capacity SOCAMM2 for Low-Power DRAM in the AI Data Center

KIOXIA launches EXCERIA PLUS G3 and EXCERIA G3 microSD cards for exceptional photography and video performance
Cameras

KIOXIA launches EXCERIA PLUS G3 and EXCERIA G3 microSD cards for exceptional photography and video performance

CORSAIR Adds Rugged Performance and Mobile Convenience to Its Storage Portfolio
Consumer Electronics

CORSAIR Adds Rugged Performance and Mobile Convenience to Its Storage Portfolio

Popular Reviews

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Terramaster F8-SSD

Terramaster F8-SSD

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

be quiet! Pure Base 501

be quiet! Pure Base 501

Soundpeats Pop Clip

Soundpeats Pop Clip

Akaso 360 Action camera

Akaso 360 Action camera

Dragon Touch Digital Calendar

Dragon Touch Digital Calendar

Noctua NF-A12x25 G2 fans

Noctua NF-A12x25 G2 fans

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed