Panel maker cartel hit with hefty price fixing fines - Samsung and others feel Korean authorities wrath Some of the biggest players in the panel business have been found guilty of price fixing, with fines being handed to Samsung, LG Display and others by South Korean authorities. The Korean Fair Trade Commission has landed the firms, which also include AU Optronics and Chimei Innolux, with fines totalling $175 million. Though this figure is likely to come down once factors such as cooperation in the investigation into pricefixing are taken into account, it is significant ruling against the firms which account for around 80 percent of the world’s LCD panels. According to the FTC the panel makers had colluded on minimum prices, pricing policies, timing of price increases and a ban on cash rebates between 2001 and 2006. It was found that around 200 secret meetings took place over the course of six years to keep prices artificially high, and to confer on sales strategies. This was bad news for customers as the cartel carried out meetings that they were fully aware contravened Korean laws.
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