THE evidence is compelling. The cartel of Asian electronics makers worked for more than five years to set the prices of liquid-crystal display screens used in computers and cellphones. They gathered for monthly meetings in private conference rooms at luxury hotels.
They kept notes at these price-rigging meetings. A typical heading: "Extremely confidential. Must not distribute". A telling summary: "Must act together with the Korean makers in order to reap success."
The details surfaced in a Justice Department criminal antitrust investigation, in which first Samsung and then Toshiba, LG, Sharp and other companies cooperated, pled guilty and paid hundreds of millions of dollars in fines.