LCD Makers Including Sharp and Samsung Settle Price Fixing Case for $388 Million

[beer]

Sharp, Samsung, and half a dozen other liquid crystal display (LCD) panel makers may have colluded to fix prices earlier in the decade, according to claims brought on by a class action lawsuit. The display makers agreed to settle the case for a combined $388 million, of which Sharp, Japan's largest panel maker, will fork over $105 million.

According to Bloomberg, Samsung's portion comes to $82.7 million. Samsung is the world's leading TV maker in terms of volume and sales. Chimei Innolux Corp., which is the biggest display panel maker in Taiwan, will pony up $78 million.

These latest proceedings are likely the last in what's been an ongoing price fixing saga. The companies involved are accused of jacking up prices for displays used in TVs and computer monitors sold between 1999 and 2006. Prior to this class action settlement, LG, Chunghwa Picture Tubes, and Sharp had admitted guilt following a U.S. Justice Department investigation and agreed in 2008 and 2009 to pay $585 million in criminal fines, Bloomberg reports.

As part of the class action settlement, all eight companies denied any wrongdoing.

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That's right, that's what you get for getting caught price-fixing.

[CODYQX4]

No end to the corruption... Everyone is getting caught price fixing now, Apple, T-Mobile, etc.

[ck_kent]

But, I doubt if we'll see drastic change in tv prices soon.

[Nemesis]

sounds just like fixing the price of gas, except no one has been investigated for it as far as i know.

[beer]

If you are looking for a change I highly recommend Vizio TVs.

I first noticed Vizio tvs in all the sports bars and restaurants I went to when I was there for a business trip. I thought they looked pretty good so I bought one for my parents, and I got to say I m impressed by its quality especially for the price I paid for them(42" for $450 USD no tax and this price is 2 years ago). The picture quality is great and it's still working very well after two years. But, as with any brand, do your research for the model you want to make sure you know what you are getting.

:cheers: