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LCD Screen Makers Plead Guilty in Price Fixing Case

by , 9:20 AM EST, November 13th, 2008

Sharp, LG, and Chunghwa Picture Tubes have all agreed to plead guilty to charges that they collaborated to fix the price of LCD displays. The companies agreed to pay US$585 million in fines for artificially raising the price of displays in products including Apple's iPod, according to the Wall Street Journal.

Sharp was accused of involvement in three different price-fixing conspiracies where it sold LDC panels to Apple, Dell, and Motorola, LG and Chunghwa were accused of conspiring to set mutual LCD component prices.

The companies were able to set artificially high prices, which ultimately were passed on to consumers. Assistant Attorney General Thomas O. Barnett said that the conspiracy "affected millions of American consumers who use computers, cellphones and numerous other household electronics every day."

He added that LCD prices should come down now, leading to lower prices for consumers.

Sharp representatives stated that the company "understands the gravity of this situation and will strengthen and thoroughly implement measures to prevent the recurrence of this kind of problem, and will earnestly work to regain the public's confidence."

LG and Chunghwa have not commented on their plea.

Observer Comments

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Close Name:Guest
Subject:

We should get compensation from the companies. Where is the money going to go?

Close Name:Guest
Subject:

To the lawyers, who else?

Close Name:Guest
Subject: US$585 million in fines

and to Washington to waste on our behalf...

Close Name:Guest
Subject: emotional iq

From Sharp minds come...price-fixed products.

Yet more HR departments that do not screen for EIQ.

Close Name:Guest
Subject: greed has its rewards

Will any one be put in jail? No.
Will anyone personally pay a fine? No.
So why not do it again?

Close Name:Guest
Subject: LCD

They could slash the price of a million large screen LCD TV by $585.00. That would force prices by every company to drop for LCDs big and Small.

Close Name:Guest
Subject:

Gee good question...let me guess...they will give the consumers a $10.00 off coupon towards another purchase of their products.

Close Name:Guest
Subject: they should pass it along

the consumers were robbed...they should give it back to us

Close Name:Guest
Subject: typos

"Sharp was accused of involvement in three different price-fixing conspiracies where it sold LDC panels to Apple, Dell, and Motorola, LG and Chunghwa were accused of conspiring to set mutual LCD component prices."

LDC? And should there be a period instead of comma after Motorola?

Close Name:Guest
Subject: Be patient, people

I have received checks in the mail from a variety of lawsuits like this, when I didn't even know I had been "wronged". Among them, insurance and CD price-fixing. A class-action lawsuit is usually filed on behalf of all the wronged customers. You may yet receive a mailing asking you to verify that you bought a certain LCD-containing product between certain dates, and if you can, you might get some money back in the form of a check. It DOES happen.

Close Name:Guest
Subject: To "guest" RE: typo

GET A LIFE!!!!!!!!!!!!!!!!

Close Name:Guest
Subject:

These items are not necessities so why any of us deserve compensation. They can charge whatever they want. If one advertises for a certain price then the other follows so what's the difference. Much like gasoline. Hence the reason why they charge a certain amount in a given area and a different amount where competition is higher.

Close Name:Guest
Subject:

Dumb ass! Learn to write before you complain about someone else.

Close Name:Guest
Subject:

Class action lawsuits give a handful of people a small amount of money while the cost of which is passed down to every other consumer.

Close Name:Guest
Subject:

Dumbass is one word.

Close Name:Guest
Subject:

Once again the public gets taken, but who will be the first whiner to stand up?

Let's face it the majority of Americans can't get off their backsides and take any action other than whine.
We deserve what we get, SORRY if this is you.

Close Name:Guest
Subject: Asian cheating

What happens when all goods sold in the US are made by companies like these? Lie, cheat, steal. It will be very expensive for the US consumer to have the Korean and Japanese manufacturers be our daddy.

Close Name:Guest
Subject:

I'd be happy if this court case just allowed LCD's to come down to a price where they were affordable to lower-income families. LCD's create significant electircal savings and have a much sharper picture than tube (projection TV's) and often the only reason people don't update their technology is because of price. With the DTV conversion coming up hot on our heels, it would be nice if the prices dropped sharply enough so that people who would normally have to purchase a converter or who normally wouldn't upgrade to a digital TV could now afford to upgrade to a shiny, new, digital LCD...

Close Name:Guest
Subject:

I want my money back!

Close Name:Guest
Subject:

No one forced you to buy LCD screens. Spare me the whining about evil corporations mercilessly taking advantage of consumers.

Pick your battles, idiots.

Close Name:Guest
Subject: I showed them

I didn't buy one.

Close Name:Guest
Subject:

Unions keep the prices of US products too high. People in the US do not work on the cheap. Again we get what we deserve.

Close Name:Guest
Subject:

the money is going to go to bail out numerous fortune 500 companies... duh!

Close Name:Guest
Subject:

Why would low-income families 'need' an LCD? Why don't we just raise taxes so I can buy one for theri non-working asses.

Close Name:Guest
Subject: Free Market at work

The Free Market is dead companies cant be trusted and greed will always overcome good. The Answer? I dont know but there should be some automatic method we could come up with other then 7 years of litigation every time we get screwed!

Close Name:Guest
Subject: I picked my nose

I picked my nose

Close Name:Guest
Subject: Asian Cheating

You forgot Chinese (Chungwa). These people are patently unethical. The Japanese copied everything for decades and are very dishonest with their intentions to put US manufacturing out of business. The Koreans started as cheap labor for the Japanese but now do the same thing as them. And the Chinese steal and copy everything they can, all the while employing defacto slave-labor.

Close Name:Guest
Subject:

gas compared to LCD screen price fixing.....you are comparing apples and tulips you tool. Gas has state, local and federal taxes which help dictate the price of gasoline... PC parts do not.

Close Name:Guest
Subject:

Quote
Guest wrote:
The Free Market is dead companies cant be trusted and greed will always overcome good. The Answer? I dont know but there should be some automatic method we could come up with other then 7 years of litigation every time we get screwed!


How little you know about how the free market works. The free market is constantly hampered by government regulation and lawsuits like this that increase costs for businesses and ultimately get passed on to the very consumers those controls are designed to protect.

Get this through your thick heads- companies do not exist for your benefit. They exist for the benefit of their shareholders. It's not greed, it's the way the world is. They are not obligated to do ANYTHING for you or anyone else besides generate profit. They are not your friend, and they are not your caretaker. Don't like that? Don't buy their products. No one forces you to.

Close Name:Guest
Subject:

Booya! Take that!

Close Name:Guest
Subject: This makes no sense

"where it sold LDC panels to Apple, Dell, and Motorola, LG and Chunghwa"

Maybe a dash, or a semicolon, or a period would make the article actually make some sense. Utterly unreadable as published and a waste of time even upon re-reading.

Close Name:Guest
Subject: Yes it is.

Dumbass is most definately one word.

Close Name:Guest
Subject:

Capitalism and communism are ultimately the same thing because there is an upper class and a lower class either by delegation or by pay grade, and because... Humans aren't perfect and benevolent and good natured and giving toward each other. Imagine that!

Close Name:Guest
Subject:

Because it would be more profitable not to get fined than to get fined again (if the fine is large enough). And the profitable company is the happy company

Close Name:Guest
Subject: Get a refund?

Why? Don't you agree to the price, fixed or not, when you buy their product? It sucks, but that's the way it works. Nobody owes you anything.

Quote
Guest wrote:
Dumbass is one word.


Seriously, why do people feel the need to be anal about the spelling of words like dumbass?

Close Name:Guest
Subject: I picked my nose again

I picked my nose again

Close Name:Guest
Subject:

Is a family of eight with two degreed employed parents making less than a 100,000 per year low income or sorry or whatever else is assumed about a family's financial situation? The family (consumer) is not the problem. The regulators being paid to prevent these types of actions are the problem. That is who is sorry or in this case a wellfair recipient who is getting a check for not working. Think about it objectively and the truth becomes clear.

Close Name:Guest
Subject:

Guest Quote: "gas compared to LCD screen price fixing.....you are comparing apples and tulips you tool. Gas has state, local and federal taxes which help dictate the price of gasoline... PC parts do not."

Ha Ha! This dude called the other dude a Tool.

Close Name:Guest
Subject:

Quote
Guest wrote:
"where it sold LDC panels to Apple, Dell, and Motorola, LG and Chunghwa"

Maybe a dash, or a semicolon, or a period would make the article actually make some sense. Utterly unreadable as published and a waste of time even upon re-reading.


This is a blog, geniuses. Blogsphere is as close to publishing and/or journalism (with qualified, educated journalists) as a fart is to romance. Proofreading and knowledge of basic grammar are not required when you consider that 90% of those reading wouldn?t know a well-written piece if it crawled up their ass.

Close Name:Guest
Subject:

"Seriously, why do people feel the need to be anal about the spelling of words like dumbass?"

Hehe, he said ANAL.

Close Name:Guest
Subject:

And greedy US corporations can not wait to do business with cultures that do not have an understanding or defintion of "unethical", or for that matter ever historically viewed equality and fairness as a component of advanced or advancing society. While Corporations know full well that any business engagement with one of the cultures in question could end up in litigation. Hence, the increased or elevated prices for their goods as litigation fees and class action lawsuits payouts laughably are conscientous (professional) points of product pricing.

Close Name:Guest
Subject:

Quote
Guest wrote:
Quote
Guest wrote:
"where it sold LDC panels to Apple, Dell, and Motorola, LG and Chunghwa"

Maybe a dash, or a semicolon, or a period would make the article actually make some sense. Utterly unreadable as published and a waste of time even upon re-reading.


This is a blog, geniuses. Blogsphere is as close to publishing and/or journalism (with qualified, educated journalists) as a fart is to romance. Proofreading and knowledge of basic grammar are not required when you consider that 90% of those reading wouldn?t know a well-written piece if it crawled up their ass.


I fart on my girl, and the romance is on

Close Name:Guest
Subject:

It costs less than a $1.50 to bring a gallon of gas to the pump and that includes ALL taxes as well as end distribution point profit. So comparing gas as well as this price fixing scandal is an execellent point of comparison. In fact, gasoline price fixing is exactly what OPEC does and the US again eagerly awaits to do business with cultures that could not care less about fairness, equaliy or ethics.

Close Name:Guest
Subject:

Quote
Guest wrote:
"Seriously, why do people feel the need to be anal about the spelling of words like dumbass?"

Hehe, he said ANAL.


Seriously, why do you have to be so childish. Don't you know that it only tears down this highly intelligent debate we adults are haveing. GO play in the street or something and get off my lawn!

Close Name:Guest
Subject:

Quote
Guest wrote:
It costs less than a $1.50 to bring a gallon of gas to the pump and that includes ALL taxes as well as end distribution point profit. So comparing gas as well as this price fixing scandal is an execellent point of comparison. In fact, gasoline price fixing is exactly what OPEC does and the US again eagerly awaits to do business with cultures that could not care less about fairness, equaliy or ethics.


Ok. Gas is a great comparison. But we're done talking about gasoline now. We're talking about how everyone who bought an iPhone during the time of this LCD heist got screwed. I HAD A DREAM LAST NIGHT THAT I BOUGHT AN IPHONE!

Close Name:Guest
Subject: Is this news?

This is SO yesterday's news. AP posted it yesterday.

Close Name:Guest
Subject:

Quote
Guest wrote:
Quote
Guest wrote:
It costs less than a $1.50 to bring a gallon of gas to the pump and that includes ALL taxes as well as end distribution point profit. So comparing gas as well as this price fixing scandal is an execellent point of comparison. In fact, gasoline price fixing is exactly what OPEC does and the US again eagerly awaits to do business with cultures that could not care less about fairness, equaliy or ethics.


Ok. Gas is a great comparison. But we're done talking about gasoline now. We're talking about how everyone who bought an iPhone during the time of this LCD heist got screwed. I HAD A DREAM LAST NIGHT THAT I BOUGHT AN IPHONE!



I appreciate your accuracy. We are really talking about the utter corruption that we trust to represent and conduct the direction of our (the US) annual consuming dollars. And how that trust is disrespected

Close Name:Guest
Subject:

Gee at least they haven't loaded the LCD's with lead paint or anything else toxic, like the children's toy's that have been shipped here from oversea's...hmmm?
Think About It...America

Close Name:Guest
Subject: iPhone prices to fall?

Will this bring down the iPhone prices before Thanksgiving?
I would like to see companies like Apple that were affected suing SHARP, LG and others. If Apple takes lead others will follow and consumers can have the last laugh.

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