LCD makers charged with price-fixing - Brussels charges number of companies

LCD makers charged with price-fixing - Brussels charges number of companies
By Nikki Tait in Brusels
Copyright The Financial Times Limited 2009
Published: July 13 2009 13:08 | Last updated: July 13 2009 13:08
http://www.ft.com/cms/s/0/7eaf9b66-6f9e-11de-bfc5-00144feabdc0.html


European antitrust regulators have charged a number of companies, including Philips Electronics and LG Display, of supplying liquid crystal display panels with running a price-fixing cartel.

The European Commission, which has been investigating the sector said on Monday that it had sent a formal statement of objections to a “number of companies” active in this area two months ago. It did not specify the number or nationality of the businesses involved. It added that that its allegations focused on cartel behaviour, which it believed was in breach of EU rules on restrictive business practices.

Philips Electronics subsequently confirmed that it had received a charge sheet as a former shareholder of LG Display and this did not mean it was directly involved.

LG Display, the world’s number two maker of LCD panels, said it was reviewing the statement of objections but declined to comment further.

LCD panels are used in mobile phones, televisions, computers, MP3 players, digital watches and pocket calculators.

The statement of objections is a formal step in EU antitrust investigations in which the Commission informs the parties concerned about the objections raised against them.

Sending a statement of objections does not prejudge the final outcome of the procedure, the Commission says, and the companies can reply to its objections