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LG, Sharp, Chunghwa to pay $585m in U.S. LCD screen price-fixing fine
November 12, 2008
Reuters: LG Display, along with Japan's Sharp Corp and Taiwan's Chunghwa Picture Tubes Ltd, agreed to pay the fines for fixing prices of LCD screens, used in a wide variety of electronics, the U.S. Justice Department said. Shares in the three screen maker's companies fell Thursday. LG Display will pay $400 million in fines and Sharp and CPT will pay $120 million and $65 million in fines, respectively, the Justice Department said.
Analysts do not expect the liquid crystal display (LCD) industry to recover until the second half of 2009 as the global economic downturn persists despite manufacturers' efforts to cut output and control supply.
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