LG Display Faces 215 Million Euro Fine for Price Fixing

South Korea's LG Display, the world's second-largest supplier of liquid-crystal display (LCD) panels, may appeal a 215 million euro fine from the European Commission for price fixing between 2001 and 2006. The company has admitted wrongdoing and expressed respect for the EC's regulatory authority, but is considering an appeal due to potential issues with the investigation process or result. The fine is part of a broader EU crackdown on Asian LCD makers, with a total 648.9 million euros in fines imposed. LG Display's decision to appeal is significant, as it may affect the outcome of the fine and potentially reduce the amount owed.

Key Takeaways:

• LG Display faces a 215 million euro fine from the European Commission for price fixing between 2001 and 2006.
• The company has admitted wrongdoing and expressed respect for the EC's regulatory authority.
• LG Display is considering an appeal due to potential issues with the investigation process or result.
• The legal procedures in the EU General Court can take more than 2 years.
• The fine imposed by the EU is part of a broader crackdown on Asian LCD makers, with a total 648.9 million euros in fines.
• Samsung Electronics Co., the world's largest LCD supplier, was exempted from the fine due to its cooperation with the EU.
• Chi Mei Optoelectronics Corp. and AU Optronics Corp. were also subject to fines.
• LG Display's LCD panels are used in flat-screen TVs, computer monitors, and mobile phones.

Statistics:

• 215 million euros: The fine imposed on LG Display by the European Commission.
• 648.9 million euros: The total fine imposed on Asian LCD makers by the EU.
• 2001-2006: The period during which LG Display allegedly fixed LCD panel prices with five other companies.
• $285 million: The US dollar equivalent of the fine imposed on LG Display.
• 2 years: The estimated time it takes for legal procedures in the EU General Court to complete.

Sources:

• [Yonhap]
• [Asian Pulse]