EU fines cartel for fixing prices on LCD panels

By Associated Press
Posted Dec. 8, 2010 at 6:47 a.m.

The European Union’s competition watchdog says it is fining five Taiwanese and South Korean electronics companies $856 million for fixing prices on LCD panels between 2001 and 2006.

The European Commission says Wednesday a sixth company, Samsung Electronics, also participated in the price fixing, but escaped a fine because it blew the whistle on the cartel.

Chimei InnoLUx Corp. received the biggest fine, euro300 million, LG Display has to pay euro215 million, while AU Optronics was fined euro116.8 million.

Two smaller companies, Chunghwa Picture Tubes and HannStar Display Corp., received fines of euro9 million and euro8.1 million each.

LCD panels are used in flat screens for televisions, computer monitors and electronic notebooks.

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