Nokia sues LCD makers for price fixing

Posted in Nokia by Shane McGlaun on December 1st, 2009

nokialogo-sbLate last year and this year a legal row has been going after several of the world’s largest manufacturers of LCD panels pled guilty to price fixing in the notebook market. Nokia has now filed suit against several of the same companies alleging price fixing in the LCD market for mobile phones.

Nokia has filed suit against Samsung Electronics Co., LG Display Co., Sharp Corp, Hitachi Displays Ltd., and Chunghwa Picture Tubes Ltd and other firms. According to Nokia, it was hurt because the firms conspired to charge more for LCDs than the market would have normally supported.

As a result, Nokia is seeking three times its loss in damages and injunctive relief. The legal proceedings in the notebook market saw the firms plead guilty and pay over $500 million in total fines along with prison terms for some executives.

WSJ

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