The South Korean Federal Trade Commission has ten lcd manufacturers fined for price-fixing on lcd’s. The fine for the ten companies, which together, eighty per cent of the market operate, amounts to a total of 125,5 million euros.
According to the FTC, the ten companies between 2001 and 2006 in the secret discussions about price-fixing for lcd’s, as is to be read at PCWorld. According to the Korean watchdog are the prices of lcd’s with this so-called Crystal meetings is maintained artificially. In total, there are more than two hundred of such encounters between the companies.
The companies that to the lcd cartel, have participated are Samsung Electronics, Samsung Japan, Samsung Electronics Taiwan, LG Display Taiwan, LG Display Japan, AU Optronics, Chimei Innolux Display, Chungwa Picture Tubes and HannStar Display. Together, the companies have a market share of approximately eighty percent of the lcd market.
The three companies of Samsung were given with an amount of a total of approximately 62.6 million euros, the highest penalty, while the three KS-companies a fine of 42.2 million euro were imposed. AU Optronics must be a fine of 18.3 million euros to pay.
The decision is consistent with a previous judgement of the European Commission about this lcd cartel. On 8 december 2010, the commission, the parties involved developed a joint fine of 649 million euros. Samsung did not receive a penalty, because it shall notify the commission had established the existence of the cartel.