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Trade groups probe Samsung, LG.Philips on price fixing

Posted: 13 Dec 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Samsung Electronics? LCD? LG.Philips LCD? LCDs? collusion?

Fair trade watchdogs in South Korea, Japan and the United States are investigating flat-screen makers LG.Philips LCD and Samsung Electronics Co. Ltd regarding possible price-fixing incident, according to a report from Korea's Yonhap news agency.

Investigations were conducted late last week, according to the report, as part of international efforts to look into suspected collusive practices among LCD makers during the 2003-2004 industry boom.

Market watchers suspect that the investigation may give a harsh blow to Samsung Electronics and LG.Philips LCD, which are battling for the top supplier spot for LCDs.

LG.Philips LCD confirmed in a statement that Fair Trade Comission officials had visited its headquarters in Seoul last week and vowed to cooperate with the officials investigating the matter, according to reports.

According to the Yonhap report, an FTC official said that the fair-trade authorities across countries "are closely cooperating with each other and simultaneously investigating all LCD makers of each country."

"The simultaneous investigation is aimed at securing documents from each company and foiling their attempts to block it," the FTC official reportedly said.




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