Samsung, Sharp, and LG have already paid hefty fines in a LCD price fixing scandal between 1996 and 2006. Taiwanese AU Optronics – the fourth largest LCD manufacturer - has now also been found guilty and faces up to $1 billion in fines.
LCD price fixing scandal
A total of eight LCD manufacturers have been accused of involvement in a price fixing cartel from 1996 to 2006. AU Optronics was the only company to plead not guilty but the court has a different opinion.
AUO has been accused of being part of a LCD price cartel together with Samsung, LG, Sharp and 4 other LCD makers
AUO’s total fine could hit as much as $1 billion dollars as the court believes AUO has made $500 million from the cartel. LG has paid more than $400 million in fines over two separate occasions. Sharp, Samsung, CPT, CMI and two other LCD manufacturers have also been fined.
The prosecutors accused the many company executives of meeting more than 60 times at hotels, bars and more to discuss the price details. We need to underline that the actual LCD-TV divisions have not been accused; only the executives in charge of the LCD panel production business.
AUO says that they plan to appeal the case.
- Source: Reuters
AUO faces $1b fine in LCD price fixing scandal
