It's the stuff that Hollywood could turn into a film...
In 2001-2006, Taiwan makers met at least 60 times in various hotels around Taipei...they had a name for these meetings: The Crystal Meetings.
Crystal, probably as in "It's crystal clear to us that we can control LCD prices if we just have a monthly chat in a private room..."
Samsung and LG of Korea and Taiwanese firms AU Optronics, Chimei InnoLux, Chunghwa and HannStar ...they met and conspired during 4 years to set prices, (including price ranges and minimum prices), share future production planning, capacity utilisation, and discuss other commercial conditions.
Yes, they knew it was illegal, says the EC. The investigation gathered by the Commission shows the Asian companies were aware they were breaking competition rules and took steps to conceal the venue and results of the meetings.
The EC, apparently, somehow got the upper hand with Samsung because Samsung folded and coughed up the whole deal. For ratting out the others, Samsung got its fine dropped.
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LG Display also received a full reduction of fine for its participation in the cartel in 2006, as it was the first company to bring forward evidence showing the cartel continued after 2005 ("partial immunity.")
Some others had their fines reduced according to how much cooperation was demonstrated during the investigation (i.e., they incriminated themselves nad the others...)
Two of the companies (Which two? We don't know but we can guess...) actually claimed an inability to pay. The EC rejected both claims ( Returned with a small Post-it note that had only "LOL" written on it. OK, we just made up that part. But this whole story is a matter of public record.)
They say any publicity is good publicity...so if Hollywood gets a hold of the script, will help LCD sales?
Go EU Fines LCD Makers €648 Million for Cartel