Seven different LCD manufacturers have been ordered to split a $553 million bill as part of an antitrust settlement, in addition to having to set up appropriate programs in order to avoid repeating a similar scenario in the future. This is the second settlement of its kind in December, concerning the indirect customers that have purchased electronics equipped with the LCDs. Another case from earlier this month ruled in favor of the direct customers, requiring the same seven manufacturers to pay up $388 million.
The majority of the sum involved in the most recent agreement, $501 million, will be invested in a refund program, and an additional $37 million will be paid as legal damages to governments and other authorities.
“Samsung is paying out the most of the companies involved, with a $240 million share of the settlement,” reports CNet. “It’s followed by Sharp at $115.5 million, Chimei InnoLux at $110.3 million, Hitachi Displays at $39 million, Hannstar Display at $25.7 million, Chunghwa Picture Tubes at $5.3 million, and Epson Imaging Devices at $2.9 million.”
LCD long in trouble
The LCD industry has encountered a number of lawsuits in the past year, which is notable now that the market for monitors is becoming especially profitable for many of the bigger vendors – including some of those mentioned above. Samsung is expected to generate increased revenue now that Sony has agreed to sell it its stake of S-LCD, a joint venture between the two manufacturers. The transaction will include a sum of over 1 trillion won or nearly $1 billion.
Apple gets reprimanded too
Apple has also been behaving badly lately, according to Italian authorities. Officials have fined three of the company’s local subsidiaries for over $1 million, accusing Apple of misleading its customers about its product warranty.