There were rumors going around for years that prices for LCD displays were purposely set high. Now it’s been confirmed after three companies plead guilty to price-fixing.
Three Asian electronics firms have agreed to plead guilty and pay $585 million in fines for conspiring to drive up the prices of LCD screens used in computers, TVs, cell phones and other electronic devices.
In a plea deal filed Wednesday, LG Display Co. Ltd., Sharp Corp., and Chunghwa Picture Tubes Ltd. agreed to cooperate in an antitrust investigation headed by the U.S. Justice Department. The plea agreement was filed in federal court in San Francisco.
The price fixed not only include consumers but retailers like Dell, Motorola, and Apple as well. Will this lead to lower prices, not exactly. I’m willing to bet that this revelation will not bring down the price of computers anytime soon, especially Apple.