LG Display, Chi Mei May Be Fined by EU for Price Fixing, Reuters Reports

LG Display Co., Chi Mei Optoelectronics Corp. and three other companies may be fined up to 700 million euros ($930 million) by the European Union for fixing the price of liquid-crystal display panels, Reuters said.

Samsung Electronics Co. may escape fines, to be levied on Wednesday, because it was the first in the cartel to inform the European Commission, Reuters said today. LCD panels are used in mobile phones, televisions and computers.

Chi Mei, which merged with Innolux Display Corp. in March to form Chimei Innolux Corp., pleaded guilty to U.S. antitrust charges last year and agreed to pay $220 million in fines.

LG Display and Samsung said in 2006 they were being probed by regulators around the world over alleged price fixing. AU Optronics Corp., Taiwan’s second-largest maker of liquid-crystal displays, said it received a formal complaint from the European Commission in May 2009.

Bang-Soo Lee, a spokesman for LG Display, didn’t immediately respond to a call or e-mail outside normal office hours. A call to Samsung Electronics press office in Seoul and calls and e-mails to Chi Mei representatives Eddie Chen and Loreta Chen in Taiwan weren’t answered outside normal business hours.

To contact the reporter on this story: Aoife White in Brussels at awhite62@bloomberg.net.

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.

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