LCD Makers plead guilty to price fixing

[SP33Demon]

Text

WASHINGTON (CNN) -- Three major electronics manufacturers have agreed to plead guilty to a price-fixing conspiracy and pay $585 million in criminal fines for their roles in the pricing of LCD display panels, the Justice Department said Wednesday.

The department announced the charges following a settlement with Sharp Corp. of Japan; LG Display Co. (LPL) of South Korea and Chunghwa Picture Tubes of Taiwan.

The charges were filed in U.S. District Court in San Francisco, Calif., and announced by the assistant attorney general for antitrust at the Justice Department in Washington.

It's hard to believe that 3 companies could be charged with this, wonder how much more we were paying and how much of a share can 3 companies really hold? And how much do you think this will drop LCD prices in time for xmas?

 

[dphantom]

LG and Sharp are in the top 5 in market share. Quite a bit really as there are not that many manufacturer's out there.

 

[soccerballtux]

Originally posted by: SP33Demon
Text

WASHINGTON (CNN) -- Three major electronics manufacturers have agreed to plead guilty to a price-fixing conspiracy and pay $585 million in criminal fines for their roles in the pricing of LCD display panels, the Justice Department said Wednesday.

The department announced the charges following a settlement with Sharp Corp. of Japan; LG Display Co. (LPL) of South Korea and Chunghwa Picture Tubes of Taiwan.

The charges were filed in U.S. District Court in San Francisco, Calif., and announced by the assistant attorney general for antitrust at the Justice Department in Washington.

It's hard to believe that 3 companies could be charged with this, wonder how much more we were paying and how much of a share can 3 companies really hold? And how much do you think this will drop LCD prices in time for xmas?

Who knows. Soyo does 24" panels for $300 regularly. Perhaps we'll see some of that.

 

[JS80]

lol samsung must have learned its lesson with the memory price fixing. freakin corrupt ass koreans!

 

[imported_Imp]

At least now we know why the 32" 720p panel price has remained so stagnant for so long (until recently).

 

[techs]

Yay free market and deregulation.
End result is always price fixing or monoplies.

 

[dphantom]

Originally posted by: techs
Yay free market and deregulation.
End result is always price fixing or monoplies.

And your alternative is ??? that would never result in a monopoly or price fixing.

 

[JS80]

Originally posted by: techs
Yay free market and deregulation.
End result is always price fixing or monoplies.

lol what do you call price floors/ceilings and government sanctioned monopolies?

 

[wwswimming]

i've always preferred Samsung LCD's because of their quality, and a
personal preference for companies that are vertically integrated. i think
that gives engineers a chance to do better engineering, instead of
becoming "supply chain managers."

 

[Atreus21]

Originally posted by: JS80

Originally posted by: techs
Yay free market and deregulation.
End result is always price fixing or monoplies.

lol what do you call price floors/ceilings and government sanctioned monopolies?

Thank you.

 

[citan x]

Originally posted by: techs
End result is always price fixing or monoplies.

Fixed

 

[Throckmorton]

I thought capitalism was good.

 

[brencat]

Don't worry. All you who bought LCDs in the last 3 years will soon be getting a class action lawsuit announcement sent to you asking to participate in a settlement against these manufacturers. You and 5M other people will anxiously await delivery of a check for $11.25, while the prosecuting law firm collects its (large) 30% bonus check and pops the champagne on a job well done.

 

[BoberFett]

Originally posted by: techs
Yay free market and deregulation.
End result is always price fixing or monoplies.

What words would you describe you call it when government mandates pricing for a product?