WASHINGTON -- Nokia has filed suits in multiple countries against a total of 11 companies, alleging price-fixing on LCDs.
Nokia alleges in the complaint the companies raised "the price of LCDs above the price that would have prevailed in a competitive market" during a 10-year span beginning in 1996. Nokia uses the displays in its cell phones.It did not specify the estimated damages.
A Nokia spokesman asserted the company has a strong case because there is no doubt that price fixing has been going on, Dow Jones Newswires reported today. The company will simultaneously pursue out-of-court settlements, Dow Jones reported.
Last year, the US Department of Justice found several LCD makers guilty of price fixing, and three major OEMs were fined.