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European Court Confirms LCD Panel Cartel Fine for LG Display

European Court Confirms LCD Panel Cartel Fine for LG Display

Enterprise & IT Apr 23,2015 0

The Court of Justice of the European Union has dismissed LG Display's appeal and confirmed a €210 million fine to the Korean display maker for its participation in a cartel on the market for LCD panels. In 2010 the European Commission (EC) imposed fines totalling €648.925 million on six Korean and Taiwanese producers of liquid crystal display
panels, because of their participation in a cartel from 2001 until 2006.

One of the largest fines, amounting to €215 million, was imposed on LG Display. In 2014 the General Court essentially upheld that decision but reduced by €5million the fine imposed on LG Display.

LG Display then brought an appeal before the Court of Justice seeking a greater reduction in the fine, without any success.

LG Display argued that the Commission, in calculating the fine, should not have taken into account panel sales to the company's then parents LG Electronics and Philips. It said those sales could not have been affected by the cartel as they were made at a preferential price.

However, the court said that these should be considered as sales to independent third parties.

Philips sold off its stake in LG Display in 2008, until when the company was called LG Philips LCD.

The largest fine, of 300 million euros, was imposed on Innolux. It has also appealed against its fine, which was trimmed last year to €288 million.

Tags: LG Display
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