The government is levelling fines from three LCD producers, including the venerated LG. Apparently, LG, Sharp, and Chunghwa all conspired to fix prices on their LCD products, including televisions, computer monitors, and cell phone screens. The fines total $585 million.
What’s disappointing in these types of anti-trust and anti-competitive charges and pleadings, is that the people that were overcharged (that would be you and me) will not reap any of the benefits. That money goes to the government, right into the general revenue fund.
If this had been a class action suit, we might have all gotten $20 in discounts or credits or something. But we’re not getting anything out of this deal.
Still, I’m glad that anti-competitive legislation is in place, and that those policies are enforced. At least companies can’t get away with conspiratorial price fixing without some oversight. But I know in the end, we the customers will be paying for the judgment these companies agreed to.