Wednesday December 08, 2010

EU Fines Six LCD Panel Makers for Price Fixing Cartel

Another round of huge fines for the members of the Crystal Meetings Club.

The European Commission has fined six LCD panel producers a total of €648 925 000 for operating a cartel which harmed European buyers of television sets, computers and other products that use the key Liquid Crystal Display component. The six are Samsung Electronics and LG Display of Korea and Taiwanese firms AU Optronics, Chimei InnoLux Corporation, Chunghwa Picture Tubes and HannStar Display Corporation. Samsung Electronics received full immunity from fines under the Commission's leniency programme, as it was the first to provide information about the cartel. Article 101 of the EU Treaty prohibits price-fixing and other practices restrictive of competition.