Printed from http://www.electronista.com

Hitachi pays $31m fine for LCD price fixing

updated 02:55 pm EDT, Tue March 10, 2009

Hitachi Guilty in LCD Fix

Hitachi this afternoon said it had pled guilty to rigging the prices of its LCD panels and agreed to pay a $31 million fine. The agreement with a US District Court in San Francisco finds that Hitachi held meetings with Dell that illegally set prices for computer LCD displays by agreeing to prices in advance and artificially adjusting the actual quoted prices to match the target. Hitachi's move effectively let the company set its own prices independently of the market between April 2001 and March 2004.

While significant, the plea is the latest in a slew of those from southeast Asian firms. Chungwa, LG and Sharp have themselves already paid $585 million in fines for similar activities between 2001 and 2006 that helped keep prices for HDTVs and other displays high.

Hitachi's punishment is comparatively light, as LG alone was fined $400 million for violating antitrust laws and has seen one of its executives indicted. Sharp was ordered to pay $120 million for fixing the prices on Apple, Dell and Motorola displays, while Chungwa was not only told to pay a $65 million fine but has had four of its executives either imprisoned or indicted.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Prong PWR Case

Ultimately there's one thing we all want from smartphone accessories; we want options. When it comes to keeping our iPhone charged, we ...

iHome iBT74 Color Changing Bluetooth Speaker

There's no reason why your tech can't look good while doing what it was designed to do. That's the reason that sports cars look good a ...

Logitech Gaming Daedalus Prime Mouse

Logitech Gaming continues to expand upon its peripherals line, with each one looking to fit neatly into a breadth of gaming needs. Bui ...

Advertisement

toggle

Most Commented