Late last year a legal drama started that surrounded many of the world's largest producers of LCD screens. The companies were found to have collaborated to fix the price of LCD screens in the computer market. Today we find out that Nokia has filed suit against many of the same companies alleging that they also conspired to fix the prices of LCDs for the mobile phone market.
Nokia has filed a suit against Samsung Electronics Co., LG Display Co., Sharp Corp, Hitachi Displays Ltd., and Chunghwa Picture Tubes Ltd. All of those companies save Samsung were involved with the price fixing scheme in the computer market.
Nokia claims that it suffered damages as the result of the price fixing and is seeking treble its damages and injunctive relief. These companies might as well pack it up now; odds are the firms used the same price fixing schemes in several markets. The fines for the LCD scheme in the computer market totaled over $500 million combined and several executives received prison terms in America.
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