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

toggle

Most Popular

Sponsor

Recent Reviews

IDrive cloud backup and sync service

There are a lot of cloud services out there, and nearly all of them can be used for backing up key files and folders. A few dedicated ...

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Sponsor

toggle

Most Commented

 
toggle

Popular News