EU court upholds LCD panel cartel fine for LG Display

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The European Justice upheld Thursday a 210 euro ($224.8 ) fine imposed South Korea’s LG Display for participating in a cartel LCD panel makers between 2001 and 2006.

LG Display, whose largest shareholder is LG Electronics, was initially fined 215 euros. The EU’s General cut the fine by 5 euros last year.

LG Display then appealed, seeking a greater reduction the fine. It argued that the Commission, in calculating the fine, should have taken into account panel sales the company’s then LG Electronics and Philips.

It said those sales could have been affected by the cartel as they were made at a preferential .

However, the said that these should be considered as sales independent third .

It added that the fine should be determined by overall sales the market affected by the infringement, irrespective of whether the prices of those sales were or were affected by the cartel.[pro_ad_display_adzone id=”10″]

Philips sold off its stake in LG Display in 2008, until when the company was called LG Philips LCD

In , the European Commission set fines in 2010 of 648.9 million euros for six Korean and Taiwanese panel producers. Samsung was exempted from a fine as it was the first information about the cartel.

The largest fine, of 300 million euros, was imposed Innolux. It has also appealed against its fine, which was trimmed last year to 288 million euros. The court’s advisor is set to give an opinion that case April 30.

(Reporting By Philip Blenkinsop; editing by Robert-Jan Bartunek)(Reuters)