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$80 million for Nokia from Seiko Epson to settle antitrust lawsuit.

| December 28, 2011 | 8 Replies

Wasn’t sure what to make of this but it seems to be a story that keeps coming up.

There’s some anti trust/price fixing thing going on apparently with LCD manufacturers and to settle those claims they’re all paying around $553 million in total apparently.

Nokia are connected with this as Seiko Epson are paying Nokia $80 Million to settle an antitrust lawsuit.

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I’m not familiar at all with the story behind this. The claim apparently was made in 2009 by Nokia. The Verge notes that the South Korean government has fined Samsung and Sharp for similar price fixing offences to the tune of $388 Million.

Engadget explains that apparently the group of LCD manufacturers ‘colluded to assure higher prices on LCDs sold between 1999 and 2006’.

Source: SlashGear, TheVerge, Engadget

Cheers everyone for the tip.

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Category: Nokia

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Hey, thanks for reading my post. My name is Jay and I'm a medical student at the University of Manchester. When I can, I blog here at mynokiablog.com and tweet now and again @jaymontano. We also have a twitter and facebook accounts @mynokiablog and  Facebook.com/mynokiablog. Check out the tips, guides and rules for commenting >>click<< Contact us at tips(@)mynokiablog.com or email me directly on jay[at]mynokiablog.com