LG Display, Chi Mei Fined by EU Over LCD-Panel Cartel
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LG Display Co. and Chi Mei Optoelectronics Corp. were among Asian companies fined 648.9 million euros ($860 million) by the European Union for fixing prices of liquid-crystal display panels.
“Foreign companies, like European ones, have an obligation to respect competition rules when they do business in Europe,” EU Competition Commissioner Joaquin Almunia told reporters in Brussels today. South Korea’s Samsung Electronics Co., the world’s largest LCD maker, wasn’t fined because it informed on the cartel and provided “valuable information,” Almunia said.