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

India-Pakistan border post opens for business

Historic checkpoint reopens to commercial traffic in bid to boost trade between antagonistic neighbours. For the first time since 2007,

Despite Upturn in Economy, Spain Still Not Out of the Woods

By Eve Pearce The year 2008 marked the commencement of one of the harshest crises encountered by the Spanish economy

Weak yen boosts Japan’s exports

The weakened yen against the US dollar and a revival in demand from European markets have boosted Japanese exports. According

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Your e-mail address will not be published.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.