Press Release: Antitrust: European Commission fines six LCD panel producers €648 million for price fixing cartel

The European Commission has fined six LCD panel producers a total of €648,925,000 for operating a cartel which harmed European buyers of television sets, computers and other products that use the key Liquid Crystal Display component. The six are Samsung Electronics and LG Display of Korea and Taiwanese firms AU Optronics, Chimei InnoLux Corporation, Chunghwa Picture Tubes and HannStar Display Corporation. Samsung Electronics received full immunity from fines under the Commission's leniency programme, as it was the first to provide information about the cartel. Article 101 of the EU Treaty prohibits price-fixing and other practices restrictive of competition.

• Primary Source

European Commission: Speech/10/736: Joaquín Almunia Vice President of the European Commission responsible for Competition Policy Press conference on LCD cartel, Visa and French chemists' association decisions Press conference Brussels, 8 December 2010 http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/10/736&format=HTML&aged=0&language=EN&guiLanguage=en

ESO: Background Information: Commission confirms sending Statement of Objections to alleged participants in LCD panels cartel http://www.europeansources.info/record/memo-antitrust-commission-confirms-sending-statement-of-objections-to-alleged-participants-in-lcd-panels-cartel/

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