Price fixing is certainly nothing new in the technology market. Several of the largest LCD markers in the world were caught collaborating to fix prices on LCDs for computers last year. The resulting legal action led to jail time for some involved and massive fines.
Nokia is suing LCD makers in Asia for allegedly colluding to fix the price of LCDs for the mobile phone market. Nokia filed the complaint on November 25 in the U.S. District Court for the Northern District of California against Samsung Electronics, LG display, Sharp, Hitachi, and Chunghwa Picture Tubes along with other firms.
The firms named in the Nokia suit include those that were embroiled in the price fixing legal action before. Nokia claims, “illegal conspiracy raised the price of LCDs above the price that would have prevailed in a competitive market.” Nokia is seeking treble damages and injunctive relief.