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

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.

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.

Category: Nokia