LCD manufacturers fined $538 million for Price Fixing
Thursday, December 29th, 2011
After careful deliberation, a number of companies that make LCD TVs have been fined a total of $538 million USD. The companies involved include Epson Imaging Devices, Hitachi, Sharp, Samsung and more.
The $538 million will be used to settle the allegations that they have been controlling the prices of LCD panels which cost the market more than they were actually supposed to pay for a period of 8 years.
All companies are also required to comply with antitrust programs to further improve their social and legal responsibilities to their customers.