Switched has a new home! Huffpost Tech.

Click here to visit the new home of Switched!

Hot on HuffPost Tech:

See More Stories
AOL Tech

Sharp, LG and Chunghwa Guilty of Price-Fixing, Owe $585M

by Lee Bains on November 13, 2008 at 09:47 AM



Having had U.S. charges brought against them for perpetrating a price-fixing conspiracy, the three electronics corporations Sharp Corp., LG Display Co. and Chunghwa Picture Tubes have all plead guilty, now owing $585 million dollars in criminal fines, according to CNN.com.

The charges, dealing with the corporations' fixing the prices of their LCD display screens, were first filed in San Francisco, in U.S. District Court. Those companies' LCDs were sold to several U.S. corporations, including Dell, Motorola and Apple, at fixed prices, according to AFP.

South Korean corporation LG will pay the lion's share of the fine, the company owing $400 million. Meanwhile, the Japanese company Sharp and the Taiwanese company Chunghwa will pay $120 million and $65 million, respectively.

Since they scammed us consumers, shouldn't they give us each a free LCD monitor as part of their restitution? [From: CNN.com and AFP]

Tags: breaking news, BreakingNews, business, crime, flat-panel, flat-panel tvs, Flat-panelTvs, shopping

HuffPost AOL Social News Most Popular