Nokia sues top LCD makers over alleged price fixing

In the future, the cost of your next smartphone might decrease by a few pennies thanks to a new lawsuit brought on by Nokia against some of the world’s largest LCD manufactures. Filed simultaneously in both the United States and the England on November 25th, Nokia is alleging that AU Optronics, Hitachi, LG, Philips, Samsung, Seiko Epson, Sharp, Toshiba and others willingly conspired to “artificially inflated the price of liquid crystal displays ultimately incorporated into LCD products purchased by Nokia, causing Nokia to pay higher prices.” Earlier this year, AT&T started a similar lawsuit after LG, Chunghwa Picture Tubes and Sharp pled guilty to price fixing which eventually caused Hitatchi to come clean. Of course with Nokia’s financial situation being what it is, any savings brought on by a successful lawsuit could just as easily — and most likely — be contributed towards the companies profit margins. So far Nokia has yet to go on the record regarding the remedies it is seeking, but we imagine the information will become clear soon enough.Read