Sharp, LG and Chunghwa get fined $585 million for price-fixing

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flat-screen-price.jpgWow. Wondered why your electronic devices cost so much? It’s because Sharp, LG and Chunghwa have been fixing the prices, but have no fear – they’ve just been hit with a $585 million fine for having done so.

LG gets the biggest chunk – $400 million, Sharp is paying $120 for fixing the prices of iPod screens, RAZR screens and Dell laptop screens. Lastly, Chunghwa will pay a $65 million fine for participating with LG.

Only these three corporations have been charged, but Assistant Attorney General for Antitrust at the Justice Department in Washington, Thomas Barnett, has said that the investigation is still ongoing and they aren’t ruling out charges against individuals or against other companies. Tough talk. Still, hopefully it’ll see screen-based device prices go down over the next few years.

(via CNN Money)

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Duncan Geere

One thought on “Sharp, LG and Chunghwa get fined $585 million for price-fixing

  • yeah great now how do we get our cut of this money wait we wont,
    now if only we could stop apple price fixing ooh and htc and nokia and rim and any other manufacturer out there that sell us everything over priced

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