3 LCD firms plead guilty in price-fixing scheme

[NickD 203]

From http://ap.google.com/article/ALeqM5iBHgLLG...7VmWAAD94DIC200

"3 LCD firms plead guilty in price-fixing scheme

By LARA JAKES JORDAN – 5 hours ago

WASHINGTON (AP) — Three electronics firms have agreed to plead guilty and pay $585 million in fines for conspiring to drive up prices for people buying computers, TVs and other LCD screens.

In a plea deal filed Wednesday, LG Display Co. Ltd., Sharp Corp., and Chunghwa Picture Tubes Ltd., agreed to cooperate in an antitrust investigation being run by the Justice Department.

The plea agreement was filed in federal court in San Francisco.

LCDs, or liquid crystal display monitors, are the glass display screens on most laptop computers, cell phones and new TVs.

Deputy Assistant Attorney General Scott D. Hammond said the scheme cost not only consumers, but also retailers including Apple, Dell and Motorola.

Hammond did not have a cost value for the losses, and said the investigation is continuing.

"These price-fixing conspiracies affected millions of American consumers who use computers, cell phones and numerous other household electronics every day," Hammond told reporters at a Justice Department briefing announcing the deal. "By conspiring to drive up the price of LCD panels, consumers were forced to pay more for these products. And consumers were not the only ones affected by these conspiracies."

LCD screens are a $70 billion worldwide market."

Certainly a lot cheaper to make than an old fashion CRT or picture tube, those required super precision alignment and pin point accuracy to shoot an electronic beam 20" into an extremely tiny hole. LCD's are a printing process. Probably good that I didn't purchase the 50" HDTV yet, see what happens to the price in the next few months.

Still don't know why that stuff isn't made here, did make sense years ago, when all this stuff was hand wired when they had to pay assemblers a buck an hour. Today, this stuff is all printing with 99% robotic assembly and even with livable wages, has got to be cheaper than shipping it twice half way around the world, or just a couple of cents more. And the IRS can tax everyone.

[Ban Hammer 13,343]

i knew i was holding out for a flatscreen computer monitor for a reason.

[William33 110]

What is the projected price adjustment overall?

Prices have indeed been dropping, thus we finally purchased a 40" Sony Bravia. With this news, we probably paid too much...

[Hilarious Clinton 452]

CRT FTW!

[William33 110]

What is the projected price adjustment overall?

Prices have indeed been dropping, thus we finally purchased a 40" Sony Bravia. With this news, we probably paid too much...

We paid $999.00 for the above, interest free for 12 months from Dell.

Any other recent purchases or comments on this revelation?

[pedroh 21]

well the manufacturer of LCD's are only like 3 worldwide.. so is not that they're the only ones who fix prices.. none of those companies mentioned actually make them.. most of them are made by Matsushita, Sony, and some other brand

[William33 110]

well the manufacturer of LCD's are only like 3 worldwide.. so is not that they're the only ones who fix prices.. none of those companies mentioned actually make them.. most of them are made by Matsushita, Sony, and some other brand

Well, ours is a Sony, but manufactured in Mexico. Certainly better than China, as Mexico has an excellent history in the manufacturing game. We are very satisified with this product, only concerned about the price.

[IAMX 3,055]

Eh, already have a Samsung HDTV and was a very reasonable price. That's why people hunt for sales and bargain prices.

[William33 110]

Eh, already have a Samsung HDTV and was a very reasonable price. That's why people hunt for sales and bargain prices.

Did you read the original article? It suggests that the current market prices are not realistic and we all paid too much, irrespective of "big" discounts or "clearance" sales.

[IAMX 3,055]

Eh, already have a Samsung HDTV and was a very reasonable price. That's why people hunt for sales and bargain prices.

Did you read the original article? It suggests that the current market prices are not realistic and we all paid too much, irrespective of "big" discounts or "clearance" sales.

Uh, it doesn't say anything about prices, other than a "plot" to price fix. It doesn't say what affect any attempt at price fixing did.

Right here in the article you're telling me to read:

Hammond did not have a cost value for the losses, and said the investigation is continuing.

Then we have the fact that prices for HDTV's have plummeted since a year ago. I don't see where prices are being inflated.

So really it's just you asserting something even further than the article is.

[PlatyPius 5]

You can buy a 13" colour CRT TV for about $80. An LCD equivalent *should* only be about $50. We know it doesn't work that way, though.

That said though, I would continue to pay the current price IF they were made here in the US. At least the money would be doing all of us some good. Call me heartless, but I really don't give a f##k if someone in Mexico or China goes without a job if it means that someone here gains one.

[William33 110]

Eh, already have a Samsung HDTV and was a very reasonable price. That's why people hunt for sales and bargain prices.

Did you read the original article? It suggests that the current market prices are not realistic and we all paid too much, irrespective of "big" discounts or "clearance" sales.

Uh, it doesn't say anything about prices, other than a "plot" to price fix. It doesn't say what affect any attempt at price fixing did.

Right here in the article you're telling me to read:

Hammond did not have a cost value for the losses, and said the investigation is continuing.

Then we have the fact that prices for HDTV's have plummeted since a year ago. I don't see where prices are being inflated.

So really it's just you asserting something even further than the article is.

Key point: Three electronics firms have agreed to plead guilty and pay $585 million in fines for conspiring to drive up prices for people buying computers, TVs and other LCD screens.

What are you missing here? It seems clear to me....The firms agreed to plead guilty? Hello?

[IAMX 3,055]

Eh, already have a Samsung HDTV and was a very reasonable price. That's why people hunt for sales and bargain prices.

Did you read the original article? It suggests that the current market prices are not realistic and we all paid too much, irrespective of "big" discounts or "clearance" sales.

Uh, it doesn't say anything about prices, other than a "plot" to price fix. It doesn't say what affect any attempt at price fixing did.

Right here in the article you're telling me to read:

Hammond did not have a cost value for the losses, and said the investigation is continuing.

Then we have the fact that prices for HDTV's have plummeted since a year ago. I don't see where prices are being inflated.

So really it's just you asserting something even further than the article is.

Key point: Three electronics firms have agreed to plead guilty and pay $585 million in fines for conspiring to drive up prices for people buying computers, TVs and other LCD screens.

What are you missing here? It seems clear to me....The firms agreed to plead guilty? Hello?

They plead to conspiring to price fix. Do I need to whip out the law dictionary for you? It means THE INTENT TO price fix, or some action toward moving in the FUTURE to commit the acts. It says in the godforsaken article the investigation doesn't even KNOW how much. How much more obvious does it need to be for you? You can conspire to commit a crime (you know, like conspiring to commit murder?) without actually committing it and be tried. I have no idea what you're hung up on here but you're way off target.

You might want to actually start checking the prices and tell me where they've jumped up.

Edited November 14, 2008 by SRVT

[pedroh 21]

ok enough, go watch your tv shows in your flatscreens now

[William33 110]

Eh, already have a Samsung HDTV and was a very reasonable price. That's why people hunt for sales and bargain prices.

Did you read the original article? It suggests that the current market prices are not realistic and we all paid too much, irrespective of "big" discounts or "clearance" sales.

Uh, it doesn't say anything about prices, other than a "plot" to price fix. It doesn't say what affect any attempt at price fixing did.

Right here in the article you're telling me to read:

Hammond did not have a cost value for the losses, and said the investigation is continuing.

Then we have the fact that prices for HDTV's have plummeted since a year ago. I don't see where prices are being inflated.

So really it's just you asserting something even further than the article is.

Key point: Three electronics firms have agreed to plead guilty and pay $585 million in fines for conspiring to drive up prices for people buying computers, TVs and other LCD screens.

What are you missing here? It seems clear to me....The firms agreed to plead guilty? Hello?

They plead to conspiring to price fix. Do I need to whip out the law dictionary for you? It means THE INTENT TO price fix, or some action toward moving in the FUTURE to commit the acts. It says in the godforsaken article the investigation doesn't even KNOW how much. How much more obvious does it need to be for you? You can conspire to commit a crime (you know, like conspiring to commit murder?) without actually committing it and be tried. I have no idea what you're hung up on here but you're way off target.

You might want to actually start checking the prices and tell me where they've jumped up.

The salient points by others on your perspective are accurate. You just cannot agree with anyone. Cheers.