LCD television manufacturer Hitachi has admitted to price fixing its LCD computer monitors and is now the fourth company caught by a US Justice Department anti-trust investigation.
The Japanese group has agreed to pay over $US31 million in fines for conspiring to fix prices in selling display panels to computer firm Dell. More than $US585 million in fines have been imposed on four computer firms in the investigation, while a number of executives have even been sentenced with jail time.
“This case should send a strong message to multinational companies operating in the United States that when it comes to enforcing the US antitrust laws we mean business,” said Scott Hammond, acting assistant attorney general.
Other companies involved and that have pleaded guilty are LG Display, Sharp and Chunghwa Picture Tubes. LG has been ordered to pay a $US400 million fine. Dell, Apple and Motorola were sold price-fixed panels.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
