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Toshiba Fined for Price-Fixing

in International Business

Toshiba Fined for Price-Fixing

Japanese electronics firm Toshiba has been fined USD 87million for colluding with other LCD makers in a bid to keep prices of liquid crystal display (LCD) panels at a high level in the US.

Toshiba has denied the charged and said it will take necessary legal action to overturn the verdict.

Other LCD companies like Samsung, LG electronics and AU Optronics were accused of price collusion before.

Lawmakers argued that such action by the manufacturers had hurt their customers.

Last year, seven LCD makers, including South Korea’s Samsung, paid more than $500m for partial refunds to retail consumers who bought goods containing the LCD panels made by them in a bid to settle price-fixing claims.

The LCD makers had also agreed a $388m deal with commercial firms who bought the panels directly from them.

Toshiba was the only firm that decided to contest the claims.


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