Samsung fingered in another LCD price fixing scam

Samsung is accused of being involved in a price fixing cartel by BrandsMart USA.

The electronics retailer has pointed the finger at the company, claiming that it, alongside LG, AU Optronics, Chi Mei Optoelectronics and Toshiba, allegedly fixed prices of liquid crystal displays to drive up prices for retailers from 1996 to 2006.

According to the complaint filed by Interbond Corporation of America – the name BrandsMart sits behind – the accused allegedly also used the gang to restrict production of the LCD panels, used in mobile phones and computer monitors.

The company claims that the group held monthly and quarterly meetings between the alleged dates where they would whisper about how to keep price and supplies low.

Ringing any bells? Samsung was spared a huge fine in December last year when it grassed up the likes of LG and AUO to the European Commission which was also looking into claims of price fixing.

To date, three execs at Chi Mei Optoelectronics and the president of HannStar have been thrown in the clink after being found guilty of price fixing, while Dell has also pointed the finger at the same lot for the same reasons.