Nokia accuses manufactures of price-fixing conspiracy

Handset manufacturer Nokia has issued legal action against manufactures of LCD televisions including Toshiba, Samsung, Sharp and Philips, saying they have engaged in price fixing.
The suits were filed last month in the US and Britain, and come alongside criminal investigations conducted by US and European Union authorities.
Spokesman Mark Durrant said AU Optronics, Hitachi, LG Electronics, Philips Electronics, Samsung Electronics, Seiko Epson, Sharp and Toshiba have been named in the suits.
“The investigations are into alleged cartel activities, effectively price fixing, in the supply of both CRTs (cathode ray tubes) and LCDs (liquid crystal display) — components that we have bought in significant volumes over a number of years,” Durrant said. “Had we not been overcharged for them our profitability would have been higher.”
“Clearly there is no doubt that these activities have been happening and Nokia has been overcharged and we are taking the appropriate, responsible steps to recover the damage that has been caused.”