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


Wow. 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 are 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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