Three Electronic Firms to Pay $585 Million for Price-Fixing

LG Display Co. Ltd, Sharp Corp, and Chunghwa Picture Tubes Ltd have agreed to pay $585 million in fines after submitting a plea Wednesday in an antitrust investigation into an alleged price-fixing conspiracy of liquid crystal display (LCD) monitors.

Deputy Assistant Attorney General Scott D. Hammond said earlier that price fixing conspiracy affected retailers as well as consumers, including Apple, Dell and Motorola. Hammond also said that these price-fixing conspiracies affected millions of American consumers who use computers, cell phones and numerous other household electronics every day. And, that by conspiring to drive up the price of LCD panels, consumers were forced to pay more for these products.

LCD screens are a $70 billion worldwide market. The investigation is ongoing.