Monday, August 03, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Xiaomi Has Reclaimed Top Spot in China, Huawei Pushes Ahead of Apple
Older Noctua Heatsinks To Support Upcoming Skylake Ptrocessors
Sony's Midrange Xperia C5 Ultra and M5 Smartphones Come With Strong Cameras
Photos of Upcoming Samsung Phablet Appear Online
Lattice Releases First superMHL Solutions for USB Type-C
AUDI AG, BMW Group and Daimler AG To Buy Nokia's HERE Digital Mapping Business
AT&T To Offer Wireless Service And DirecTV's Pay-TV Offerings
Microsoft Sees Growth Beyond The Desktop With Windows 10
Active Discussions
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
 Home > News > Consumer Electronics > Europea...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, December 09, 2010
European Commission Fines Six LCD Panel Producers For Price Fixing Cartel


The European Commission has fined six LCD panel producers a total of €648,925,000 for operating a cartel which harmed European buyers of television sets, computers and other products that use the key Liquid Crystal Display component.

The six are Samsung Electronics and LG Display of Korea and Taiwanese firms AU Optronics, Chimei InnoLux Corporation, Chunghwa Picture Tubes and HannStar Display Corporation. Samsung Electronics received full immunity from fines under the Commission's leniency programme, as it was the first to provide information about the cartel. Article 101 of the EU Treaty prohibits price-fixing and other practices restrictive of competition.

"Foreign companies, like European ones, need to understand that if they want to do business in Europe they must play fair. The companies concerned knew they were breaking competition rules and took steps to conceal their illegal behaviour. The only understanding we will show is for those that come forward to denounce a cartel and help prove its existence," said Commission Vice President in charge of competition policy Joaqu?n Almunia.

Today the Commission fined six producers of liquid crystal display (LCD) panels a total of €648 925 000 for operating a cartel between October 2001 and February 2006. LCD panels are the main component of thin, flat screens used in televisions, computer monitors and electronic notebooks. The companies are Samsung Electronics and LG Display of Korea and Taiwanese firms AU Optronics, Chimei InnoLux Corporation, Chunghwa Picture Tubes and HannStar Display Corporation.

During the four years, the companies agreed prices, including price ranges and minimum prices, exchanged information on future production planning, capacity utilisation, pricing and other commercial conditions. The cartel members held monthly multilateral meetings and further bilateral meetings. In total they met around 60 times mainly in hotels in Taiwan for what they called "the Crystal meetings", the Commision said.

These agreements had a direct impact on customers in the European Economic Area because the vast majority of televisions, computer monitors and notebooks incorporating those LCD panels and sold in the EEA comes from Asia, according to the EC.

The investigation gathered by the Commission shows that the companies were aware they were breaking competition rules and took steps to conceal the venue and results of the meetings. A document requested everybody "to take care of security/confidentiality matters and to limit written communication" reminding of the DRAM investigation started in 2002 (and concluded in May 2010).

The Commission faced the companies with a Statement of Objections on May 2009 on which they had the opportunity to comment and be heard and after which the Commission reduced the proven duration of the infringement by four months.

In setting the level of the fines, the Commission took into account the companies' sales of the products concerned in the EEA, the very serious nature of the infringement, its EEA-wide scope and its duration.

Samsung Electronics received full immunity under the Commission's 2002 Leniency Notice, as it brought the cartel to the Commission's attention and provided valuable information to prove the infringement. The fines of the following undertakings were also reduced for their cooperation with the Commission: LG Display (50%), AU Optronics (20%) and Chunghwa Picture Tubes (5%). Besides this reduction LG Display also received a full reduction of fine for its participation in the cartel in 2006, as it was the first company to bring forward evidence showing that the cartel continued after 2005.

The individual fines are as follows:



Previous
Next
Gartner Says Worldwide Semiconductor Revenue Increased in 2010        All News        Intel Targets Tablets and Phones market With Chips Coming Next Year
Total Black Friday Sales Down Versus 2009     Consumer Electronics News      DNP Develops Technology to Prevent Scintillation on Projectors and Displays Using Laser Light Sources

Get RSS feed Easy Print E-Mail this Message

Related News
Photos of Upcoming Samsung Phablet Appear Online
Galaxy S6 Sales Not Enough To Keep Samsung's Profit High
Samsung Starts Mass Production Of First Mobile Image Sensor with 1.0µm Pixels
Samsung To Showcase New Galaxy Phablet on August 13 Event
Smartphone Market Posts Year-Over-Year Growth in Q2 2015
Samsung Unveils New Data Center Solid State Drives
New Galaxy J2 Coming In S. Korea
Samsung Galaxy Tab S2 Tablet Coming Next Month
Samsung Launches The Ultra-slim Galaxy A8 in China
Samsung To Develop 11K Super-Resolution Display
Next Generation Samsung Galaxy Note To Come In August
Samsung Galaxy Grand Prime Arrives At Sprint

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .