Apple Suppliers Charged with Price Fixing By China

For LCD panels


A total of six companies have been accused of holding 53 secretive meetings in Taiwan and South Korea to agree on prices for LCD panels, according to Bloomberg. China's National Development and Reform Commission also fined Chunghwa Picture Tubes Ltd. and HannStar Display Corp. in the price fixing scheme.

The commission reportedly said that the companies, which mainly build LCD panels for TVs, also shared other confidential information between them. It also revealed that the companies confessed to their crimes.