The European Commission has fined six LCD panel producers a total of EUR 648.83 million for operating a cartel which harmed European buyers of television sets, computers and other products that use LCD components. The six are Samsung Electronics and LG Display of Korea and Taiwanese firms AU Optronics, Chimei InnoLux, Chunghwa Picture Tubes and HannStar Display. Samsung Electronics received full immunity from fines under the commission's leniency programme, as it was the first to provide information about the cartel. The cartel operated between October 2001 and February 2006. During the four years, the companies agreed prices, including price ranges and minimum prices, exchanged information on future production planning, capacity utilisation, pricing and other commercial conditions. The cartel members held monthly multilateral meetings and further bilateral meetings. In total they met around 60 times mainly in hotels in Taiwan for what they called "the Crystal meetings". The investigation by the commission shows that the companies were aware they were breaking competition rules and took steps to conceal the venue and results of the meetings.
