Seiko Epson, Hitachi, LG Display, Philips, Samsung, Sharp, Toshiba, and Chunghwa Picture Tubes are main suspects against whom the lawsuit is filed. Nokia has not explicitly stated the amount of the damages it is looking for, but the alleged connivance covers a ten-year period traversing 1996 to 2006. During this period, Nokia claims to have paid hyperbolic prices for the LCD displays.

“Nokia has filed suits to recover overcharges it paid as a result of cartel activities which are currently under government investigation.” The statement further explains “When certain companies and management employees have already admitted participating in, or are indicted for, global price-fixing cartels involving components Nokia has purchased, it is reasonable for Nokia to seek redress,” Nokia said in a statement.

LG, Sharp, and Chunghwa Tubes have already acknowledged entering in the price-fixing cartel and the U.S. Department of Justice has fined them $585 million, and AT&T has filed a similar lawsuit seeking damages related to the collusion.

The price-fixing news is nothing new and the alleged connivance ended three years ago, so consumers are improbable to see any benefit from the fines or lawsuits. Apparently, devices–particularly smart phones could be less expensive if the price handset makers pay for the LCD displays is not unnaturally inflated.

The cost consumers pay for mobile devices is already subsidized by the wireless service suppliers. Even if the full price of a high-end smart phone dropped from $600 to $500, the carriers would most likely absorb the savings as extra profit rather than mulling the savings by dropping the subsidized pricing even lower.

One potential benefit, though, would be if the no-contract, non-subsidized cost was lower users may be more likely to pay the full price. Possibly rather than waiting every two years for contracts to expire and up rating with a new subsidized device, users would be able to merely purchase new devices at will as obliging new technology comes out.

Nokia’s legal team has been busy lately. Nokia also recently filed a suit against Apple, alleging that the iPhone conflicts on a number of patents held by Nokia. Apple pales in comparison to Nokia in terms of handset sales volume, yet generates importantly more profit per device. Nokia is willing to take a piece of that revenue pie.

Nokia has had a rough time recently with moribund sales, refusing revenue, and a stale portfolio of handsets. Hopefully Nokia isn’t hoping these lawsuits will help it rebound, though.