LG, Philips accused of price fixing
Philips says it will “vigorously oppose” allegations from the EU that it was involved in a number of companies embroiled in LCD panel price-fixing. Alongside LG, Philips has announced it was sent a “statement of objections” by the European Commission’s competition regulators. The statement has been issued to a number of LCD manufacturers, according to the EC, although others remain unnamed.
Although Phillips is no longer a shareholder in LG’s LCD operation, it is involved in the investigation that focuses on the jointly owned venture founded in 1999, LG Display.
The statement of objections is the first formal step in an EU investigation and allows time for a reply to objections before a verdict is reached.
Electronics Weekly reported that Sharp had denied being served with a statement of objections while Samsung would not confirm whether or not it had. The electronics news site did however say that Samsung admitted to co-operating with the Competition Directorate’s investigation which has been going on for three years.
Last year LG, Sharp and Chungwha Picture Tubes were fined after they were found guilty of LCD price fixing in the US.