Menu
Hitachi pleads guilty, to pay fine in LCD price-fixing problem

Hitachi pleads guilty, to pay fine in LCD price-fixing problem

Hitachi Displays joined LG, Chunghwa and Sharp among companies that have pleaded guilty to participating in price fixing in the LCD market.

Hitachi has agreed to pay US$31 million in fines for its role in a conspiracy to fix prices on LCD display panels sold to Dell for use in desktop computers and laptops, the US Department of Justice said on Tuesday.

The DOJ charged Hitachi with participating in meetings in Japan, Korea and the U.S. to discuss prices for the LCDs over a period stretching from April 1, 2001, through March 31, 2004. Hitachi also shared information on its sales of the LCDs sold to Dell as a way to show that it stuck to the agreed-upon prices, the DOJ said.

In addition to its guilty plea, Hitachi has also agreed to cooperate with the DOJ's ongoing investigation. The plea agreement still must be approved by the U.S. District Court for the Northern District of California.

Late last year, the DOJ began to announce other companies that were involved in the price-fixing scheme. So far, more than US$585 million in criminal fines have been imposed, and four people have pleaded guilty and have been sentenced to jail time.

In December, LG pleaded guilty to its role in the conspiracy and was sentenced to pay a US$400 million fine -- the second-largest ever imposed by the Antitrust Division. LG and Chunghwa executives have been sentenced to serve between six and nine months in prison, in addition to paying fines.

The DOJ estimates that the total market for LCD panels was about US$70 billion in 2006.


Follow Us

Join the newsletter!

Or
Error: Please check your email address.

Tags hitachiinternational news

Featured

Slideshows

Bumper channel crowd kicks off first After Hours of 2018

Bumper channel crowd kicks off first After Hours of 2018

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Jefferson in Auckland to kick-start 2018. Photos by Gino Demeer.

Bumper channel crowd kicks off first After Hours of 2018
Looking back at the top 15 M&A deals in NZ during 2017

Looking back at the top 15 M&A deals in NZ during 2017

In 2017, merger and acquisitions fever reached new heights in New Zealand, with a host of big name deals dominating the headlines. Reseller News recaps the most important transactions of the Kiwi channel during the past 12 months.

Looking back at the top 15 M&A deals in NZ during 2017
Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Show Comments