LCD companies accused of cartel collusion

Philips and LG Display have been accused of colluding together to keep the price of LCD panels high.

Both companies have been contacted by European Union investigators, as part of a wider survey of LCD panel makers’ practices.

LG Display was at one time in a joint venture with Philips called LG Philips LCD Company.

Last year a US investigation resulted in Sharp, Chunghwa, and LG Display admitting they operated a cartel and the companies were fined $585 million.

According to the Taipei Times, the European Union can levy fines of up to 10 percent of annual sales if its probe results in LG and Philips being found guilty of operating a cartel.