English | دری

Taiwanese flat screen maker fined in US for price fixing

in International Business

Taiwanese flat screen maker fined in US for price fixing

Taiwan’s biggest flat screen maker, AU Optronics, has been fined USD 500mn for colluding with rival manufacturers to keep the prices of LCD panels high.

AU Optronics have denied the charges and intends to lodge an appeal against the judgment.

Two senior executives of the firm have also been sentences to three years in prison and fined USD 200,000 each.

US prosecutors had asked for a fine of USD 1bn after the firm was found guilty. Heather Tewksbury, the attorney for US Department of Justice antitrust division, argued the fine was not adequate.

“$500m is not enough to deter cartels like this from forming,” she said. “AU Optronics is getting a 50% discount and that’s an inequitable result.”

US authorities have made a series of moves against LCD makers for price fixing.

Last year, South Korea’s Samsung and six other LCD makers paid USD 553m to settle such claims.


Tags assigned to this article:
AU optronics

Related Articles

High Oil Price Shooting in the Arm for Global Markets

Oil prices rise for a fourth month in a row, inspired by the Federal Reserve’s move last week to stimulate

Spain’s jobless level falls for second month

The number of people looking for work in Spain fell for the second month in a row in May to

Bill Gates is the richest person on the planet, for the 16th time

According to the annual list published by Forbes magazine, Bill Gates whose estimated net worth stands at 79.2 billion dollars,

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.