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LG Display, 4 others face EU antitrust fines: sources
November 29, 2010 / 5:20 PM / 7 years ago

LG Display, 4 others face EU antitrust fines: sources

BRUSSELS (Reuters) - Five companies, including LG Display and Taiwan’s AU Optronics Corp are set to be fined by EU antitrust regulators next week for fixing prices of display panels used in consumer devices, four sources said on Tuesday.

<p>An employee of LG Display walks out of its Seoul office April 22, 2010. REUTERS/Jo Yong-Hak</p>

The European Commission, which handles EU regulatory affairs, charged the companies in July last year with breaching EU laws on restrictive business practices. Several other regulators around the world also investigated the sector.

The Commission is expected to unveil the fines on December 8, one of the sources said.

The EU watchdog did not identify the companies at the time, but LG Display, the world No. 2 LCD maker, global No. 3 AU and Chi Mei Optoelectronics Corp, Taiwan’s second-largest LCD firm, confirmed the charges.

A Commission document obtained by Reuters showed the companies on the charge sheet include Chunghwa Picture Tubes, Taiwan’s third-largest LCD maker, and HannStar Display Corp.

World No.1 LCD maker Samsung Electronics will not be fined, as it alerted the Commission to the cartel, another source said.

Reporting by Foo Yun Chee, editing by Rex Merrifield

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