Bloomberg is reporting that Nokia is suing a number of LCD Manufacturers including Samsung Electronics and LG Display Co. Nokia is suing these makers of liquid-crystal displays over conspiracy in fixing prices of panels.The lawsuit has been filed in San Francisco on Nov 25th. Nokia is accusing world’s largest LCD manufacturer Samsung and a bunch of other companies of illegal price-fixation of LCD panels over competitive market levels.Nokia seeks unspecified damages for the same. Nokia’s profits per handset have been hit due to the premium price it paid for the LCDs
Looks like Nokia is on the clearly on the offensive and looks like many players in the mobile handset market who have taken the Finnish maker for granted might have to pay the price. You might know that Apple is being sued by Nokia over patents violations and thinks look positive for Nokia. Apple has been accused of trying to manipulate Flash Memory prices and now LCD Makers are accused of manipulating their prices.
But Nokia which is already suffering from component shortages should try to settle this outside the court as they can’t afford to delay their products.