LG hit with €210 million fine

LG headquartersThe European Court of Justice said that LG Display had to cough up €210 million in fines, after it upheld the penalty for engaging in an illegal cartel.

The cartel operated between 2001 and 2006 and involved a number of manufacturers of flat panel displays.

LG Display managed to secure a reduction of €5 million last year, but today’s decision means that it’s run out of appeal road.

Samsung, which was part of the illegal cartel, escaped punishment because it blew the whistle on the existence of the plot.

LG, a Korean company which formerly traded under the name Lucky Goldstar, colluded with the other panel makers on pricing so reducing the ability of people buying their panels to do deals.