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

Nintendo reveals Wii U’s Miiverse social network ahead of E3

Nintendo’s new Wii U console will embrace social networking, according to a video presentation released ahead of the E3 video

Foreign firms create over 66,000 jobs in UK

Investment by foreign companies has created more than 66,000 jobs in the United Kingdom with more than half of the

Euro at its lowest against US dollar in 11 years

The Euro has hit its fresh 11-year low against the US dollar, standing at USD 1.156. This comes as the

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Your e-mail address will not be published.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*