Price Fixing raps on LG, Samsung and other LCD manufacturers in China

Apple Insider recently reports that price fixing raps had been issued to LCD manufacturers in China, including product component subcontractors AU Optronics, Innolux, LG and Samsung.

Known to be among the sources of Apple’s product components and hardware bits, the news note that a total of six companies had conducted private meetings, where the pricing standards of their wares were alleged to have been set to a certain limit or rate.

Samsung, LG charged with LCD panel price fixing in China
The report attributes its source to have come from a Bloomberg story, with that story noted to have said that the companies involved in the price fixing controversy had confessed to the deed.

The meetings, also based on the report, are said to have taken place in South Korea and in Taiwan, with a total of 53 meetings taking place.

LG, one of Apple’s subcontractors for device components, is alleged to have shared that they had been involved in the price fixing matter between 2001 to 2006. Samsung, one of Apple’s primary source of components and parts, is reported to have taken part in the price fixing scheme until 2005.

The Chinese National Development and Reform Commission is reported to have also included HannStar Display Corporation and Chunghwa Picture Tubes Ltd in the raps.

Essentially, the companies involved in the matter are responsible for developing LCD screens for televisions, and are also reported to have disclosed confidential production-related data and information with each other.

Fines are primarily the penalties imposed on the brands, resulting from the secret meetings and price fixing arrangements they are reported to have taken active participation in.

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