LCD makers fined €649 million for price fixing

By Emil · 15 replies
Dec 8, 2010
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  1. The European Commission has issued a fine to six LCD makers found to have participated in price fixing, just in time for Christmas. The fine amount is €648.925 million ($857.49 million), according to Tech Eye.

    Read the whole story
  2. Good!

    Now I'm waiting for a news like this in the US
  3. You'll be long dead before that happens. Filthy secrets like that are what the US is built on these days. Uncovering them? Pfft...good luck with that. At least the Europeans are taking a stand. Good show Samsung!
  4. princeton

    princeton TS Addict Posts: 1,676

    In canada I'm waiting for them to say this about the canadian telecommunications oligopoly. All 3 carriers have identicle plans in most cases. Not a ****ing coincidence.
  5. biotank

    biotank TS Rookie

    I guess Samsung did a good job on backstabbing it's competitors ~~ lol
  6. Looks like samsung will get my holiday business.
  7. lawfer

    lawfer TechSpot Paladin Posts: 1,270   +91

    Meh, 10-400 million dollars is like pennies to these companies.

    ECHTECH TS Rookie

    If you expose their secrets, then you will end up like Asange and Wikileaks!!!
  9. matrix86

    matrix86 TS Guru Posts: 843   +38

    *singingly to the tune "It's the most wonderful time of the year"*

    It's the most, greediest tiiiiiime of the year. With companies dealing in all kinds of dealings and screwing you haaaaard. It's the most, greediest tiiiiiiime...of the yeeeeaaaaarrrrr!
  10. TeamworkGuy2

    TeamworkGuy2 TS Enthusiast Posts: 191

    If companies can afford fines like that, I wonder how much they are making?
    This is just sad, if LCDs are being price fixed by companies, what other products are also being price fixed...
  11. "In canada I'm waiting for them to say this about the canadian telecommunications oligopoly. All 3 carriers have identicle plans in most cases. Not a ***** coincidence. "

    You are totally right, what we pay here in Manitoba is nearly identical to what was charged in Saskatchewan. Also, the cost of internet here is ridiculous; it's probably 10 times more than what it is in some European countries. My 10mb connection here is like 50 dollars a month, but I read that in nations like Romania that would cost about 5 dollars.

    Also, cable is still stupid expensive. 50 bux a month! I only watch like 4 channels lol!
  12. captaincranky

    captaincranky TechSpot Addict Posts: 13,023   +2,556

    For all of you that think this is good news, think again. The only place that money will go is to the government agency that won the case.....After which, the LCD makers will tack the fine money onto ther price of the panels and we'll all pay the fine, next time we buy a monitor.

    So, to carry on the "hand in the cookie jar" metaphor, the manufacturers will pull their hands out of that cookie jar, make a fist with it, then shove it up our collective a**es.

    Happy holidays from the desk of captaincranky.
  13. no. here in romania is 11 $ and is included the telephone subscription(so 3$ included) . but we have very expensive food and poor salary, about 200-300$/month even if u have a master. very few have about 700-900$/month(capital and some corrupts). junk from europe and turkey is selling to us. and from 6 years we have a dictator, with fraud in elections, supported by who knows who(guess). only very stupid people and corrupts will remain in this country. it`s a burning hell and nobody cares, only fake remarks.
  14. Lurker101

    Lurker101 TS Evangelist Posts: 820   +345

    "Foreign companies, like European ones, need to understand that if they want to do business in Europe they must play fair," Joaquín Almunia, Vice President of Competition Policy in the EC, said in a statement.

  15. mosu

    mosu TS Guru Posts: 474   +84

    And yet in we pay more for LCDs here in Europe!!!
  16. fpsgamerJR62

    fpsgamerJR62 TS Rookie Posts: 489

    I wonder what other computer components have been affected by cartel price fixing. It's expensive enough dealing with the normal upgrade cycle without having a cartel jacking up the price of your parts.

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