There may have been a long shot in Hades that Sharp and LG would navigate their way out of paying a full $120 million / $400 million fine for their
respective roles in a recent LCD price fixing bust, but that shot has apparently failed. It was announced this week that both firms would indeed be sentenced to pay the full fine "for their role in a price-fixing scheme that forced millions of US consumers to overpay for gadgets using liquid-crystal displays." The other culprit, Taiwan's Chunghwa Picture Tubes, has already agreed to plead guilty to criminal charges and will be sentenced in January. Happy holidays, huh?
Reader Comments (Page 1 of 1)
BarryL @ Dec 18th 2008 9:11PM
This will just raise LCD prices and be passed onto the customer. No surprise there!
carg0 @ Dec 18th 2008 11:20PM
oh look, more major Asian corporations busted for price fixing. how unexpected...
GhostDoggy @ Dec 19th 2008 5:19AM
I'm sure this ranks right up their with the financial industry and the $700 Billion bailout seed, or the Bernard Madoff $50 Billion fraud situation. Yeah, none of that is going to cost cowsumers.
Garst @ Dec 19th 2008 2:57AM
Now, that's why the price for the LG cost more than an identical set from Samsung. Guess what? I had no qualms buying the Samsung. That's what those jackasses get; no money from me.