FTC Raids Sharp, Hitachi Displays over LCD Panel Cartel
Tokyo, Feb 28, 2008 (Jiji Press) - Japan's Fair Trade Commission on Thursday raided Sharp Corp. <6753> and Hitachi Displays Ltd. on suspicion of fixing prices of liquid crystal display panels for Nintendo Co.'s <7974> DS Lite game machine.
The two firms are suspected of having started fixing prices of the LCD panels around 2005 for the touch-screen portable game console, which Nintendo launched in 2004, informed sources said.
A spokesman at Sharp, headquartered in Osaka, said that the company is currently investigating the matter.
A spokesman at Hitachi Displays, a Tokyo-based wholly owned unit of Hitachi Ltd. <6501>, said that the company is being investigated by the antitrust watchdog but declined to comment further.
