"Cartel" fined nearly $600 million for price-fixing electronics
Price fixing is a dirty business, one that benefits the big boys and picks the pockets of the consumer. If you've bought a Motorola mobile, a Dell PC or an iPod in the last few years, you may have spent over the odds as a victim of a manufacturing cartel.
Three companies - LG, Sharp and Chunghwa Picture Tubes Ltd - have admitted to fixing the prices of liquid crystal display TV screens, computer monitors and other LCD screens. In particular, Sharp was charged for fixing prices on LCD panels sold to Dell for computers, Motorola for its Razr phone and Apple for its iPods.
Collectively, the three firms have been fined nearly $600 million by the US Department of Justice; LG was fined $400 million - the second highest criminal fine the department has ever imposed.