LG (lifes NOT good?) LG Display Executive Pleads Guilty in LCD Price-fixing Case

* IDG News http://www.pcworld.com:80/article/164007/article.html?tk=nl_drxnws

We see a lot of LG products … and we’ve all probably seen by now the commercials or ads with “LG” and the logo “Life’s Good”. Many don’t know that “LG” doesn’t really stand for “Lifes Good” but rather for “Lucky Goldstar”. You may remember some Goldstar products in past years … I personally spent some time working in warranty repair of consumer electronics such as stereo, video recorders, camera recorders, televisions and such. The company that I worked for was an authorized repair or service facility for warranty and non warranty repairs for Goldstar - among lots of other electronics companies (like Sony, Panasonic, Akai, Toshiba, Teac) - and so I saw the name in it’s prime time days.

There’s a wikipedia page about L.G. (and lots of other things) http://en.wikipedia.org/wiki/LG and it tells an interesting bit of history on L.G. Note wikipedia is a project with articles edited by many people from all over the world/Internet - so take such article lookups with a decent dose of caution. They are often good information - but don’t bet your career or doctorate thesis on them.

— Alan Spicer

* IDG News (link above) breaks the story…

LG Display Executive Pleads Guilty in LCD Price-fixing case

Grant Gross IDG News Service - Apr. 28, 2009 4:30 pm

A South Korean executive with LG Display has agreed to plead guilty and serve a year in prison for participating in a global conspiracy to fix the prices of TFT-LCD (thin-film transistor liquid crystal display) panels, the U.S. Department of Justice announced.

Bock Kwon, who served in several executive roles at LG Display, conspired with employees from other TFT-LCD panel makers to fix prices between September 2001 and June 2006, the DOJ said. In agreeing Monday to plead guilty to a one-count felony price-fixing charge, Kwon faces up to a year in prison and a US$30,000 fine. A judge in U.S. District Court for the Northern District of California must still approve the plea agreement.

TFT-LCD panels are used in computer monitors and notebooks, televisions, mobile phones and other electronic devices. In 2006, the worldwide market for TFT-LCD panels was approximately $70 billion, the DOJ said.

(more at the link above!)

—

Alan Spicer Marine Telecom

+1 954 683 3426

http://www.marinetelecom.net

http://www.wifiyacht.net

http://blog.marinetelecom.net

http://internetforyachts.net

… and don’t forget to stop by http://riveroffers.com/?cogid=aspicer … Get what you need from business communications to consumer electronics and more. We’ve got your needs covered! Make sure you visit us real soon.

This entry was posted on 30. April 2009 at 01:45 and is filed under Main. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.