LG and Chunghwa Picture Tubes Ltd. are in trouble. Executives from both companies have pled guilty to global LCD price-fixing. The conspiracy was to stop competition by setting prices and occurred for over 5 years, from September, 2001 to December, 2006.
Four executives will be subject to a fine, must cooperate in helping the United States in the investigation, and face jail time.
What does this mean for us, the consumers? Prices of LCDs should change since whatever price that was agreed upon between the manufacturers did not truly reflect demand.
Read: [Global price-fixing]