Tue, Jul 14, 2009 - Page 12 News List

EU delivers two LCD cartel complaints

BLOOMBERG

LG Display Co and Royal Philips Electronics NV said they received complaints from EU regulators as part of an investigation into price fixing involving liquid-crystal-display (LCD) panels.

LG Display is reviewing the complaint, Son Young Jun, a spokesman for the Seoul-based company, said by telephone today.

Philips said the European Commission accused the company of being jointly liable for LG Display’s anticompetitive conduct in the case, the company said in a statement today.

LG Display, Chunghwa Picture Tubes (華映) and Sharp Corp last year agreed to plead guilty and paid US$585 million in criminal fines in a related US probe.

The EU can fine companies as much as 10 percent of annual sales.

OPPOSITION

Philips said it intended to oppose the EU complaint, known as a statement of objections.

The Amsterdam-based company said the EU complaint related to the period it exercised joint control over LG Display, which was formerly known as LG Philips LCD Co.

EU regulators on Friday said that they sent the statement of objections to a “number” of companies in the LCD panel case.

The product under investigation is the main component of thin, flat monitors used in mobile phones, TVs, computers, digital watches and pocket calculators, the commission said.

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