LG coughed up a whopping £246m this week, as part of a settlement in a price fixing case over LCD Panels, which also involved Samsung, Sharp, Toshiba and Hitachi. Despite agreeing to pay £246m, LG actually denied fixing prices, and instead agreed to pay the money to avoid "the expense and burden of protracted litigation".
At Kogan, we totally believe LG. We've been watching their prices for quite some time, and to be honest, LG haven't been fixing their prices at all - they're still completely messed up. An LG 55" LED TV from Dixons will set you almost £1,500, when for half the price at Kogan, you'll get a 55" LED TV and an Android Tablet with multi-touch.
While LG prices are clearly broken, at Kogan, we're committed to "price fixing" - and proudly so! The prices of consumer electronics have been too high for too long. Companies like LG, Samsung, Sharp, Toshiba and Hitachi sell mainly through bricks and mortar retail stores. By the time the product actually gets to you, the retailer has taken a cut, the importer has taken a piece, and the distributor has also pocketed some of your money.
All these middlemen result in a broken system, and Kogan is here to fix it. We manufacture and sell direct to the consumer - cutting out all the middlemen, to make the latest consumer electronics more affordable for all Britons!
So, if fixing prices is wrong, we don't want to be right :-)