Seiko to pay Nokia $ 80 m to settle LCD cartel case

HELSINKI (Reuters): Japan’s Seiko Epson said it will pay Finnish mobile phone maker Nokia $ 80 million to settle claims of price fixing in liquid crystal display (LCD) panels.

Nokia sued Seiko Epson in 2009 in Britain and the United States, saying the electronic parts maker overcharged it by operating an LCD cartel.

In a statement on Monday, Seiko said it decided to settle the case after considering expected costs of a prolonged lawsuit.