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Eu fines LCD makers 649 million EUR

Posted on Wednesday, December 08 2010 @ 18:01:42 CET by


The European Commission announced a fine of almost 649 million EUR to six LCD panel makers for price fixing in Europe between 2001 and 2006. Samsung was spared from a fine by ratting out the other participants, while three other manufacturers received fine reductions under the 2002 Leniency Notice.
Today the European Commission announced it was doshing out fines totalling almost €649 million to six LCD panel-makers for operating a price-fixing cartel in Europe between 2001 and 2006. However, there's a sliding scale of reduction on the price of committing a crime depending on the extent to which a company is prepared to betray its former accomplices.

The table below shows all the fines and the extent to which they've been reduced for cooperation with the investigation. As you can see, Samsung gets to keep every extra penny and cent it made by price-fixing for five years, while LG gets to keep half for coming clean in 2005. This ruling may also provide the foundation for individual actions for damages in future.
Full details can be found at Hexus.


 



 

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