LCD maker cops to international price-fixing conspiracy
Apple, Dell, HP bilked
Yet another seller of LCD panels has copped to international price-fixing that bilked Apple, Dell, and HP, among others.
Taiwan-based HannStar Display Corporation has agreed to pay a $30m criminal fine for its role in a global conspiracy to fix prices of monitors that use TFT-LCD, or thin-film transistor-liquid crystal display, technology. Federal prosecutors in San Francisco allege that the company participated in the industry cabal from 2001 to 2006, artificially driving up prices of monitors, laptops, mobile phones, and other electronic devices.
HannStar is the seventh company to admit participating in the price-fixing scheme, according to Justice Department officials. The companies have collectively agreed to pay more than $890m in fines. Other companies that have pleaded guilty include Hitachi Display, LG Display, Sharp, and Chunghwa Picture Tubes.
The prosecutions are the result of a joint investigation conducted by the FBI and the San Francisco field office for the Justice Department's antitrust division. ®