Japan-based electronics firm Hitachi Displays Ltd. has plead guilty to price fixing charges on the sale of LCD panels and has agreed to pay $31 million as part of its deal with the U.S. Justice Department.
"The case should send a strong message to multinational companies operating in the United States that when it comes to enforcing the U.S. antitrust laws we mean business," Acting Assistant Attorney General Scot Hammond said in a statement.
Hitachi, who admitted to fixing prices on screens sold to Dell for use in desktop monitors and notebook displays from 2001 to 2004, isn't the only display maker to be accused of price fixing. LG, Sharp, and Chungwha Picture Tubes all struck similar plea agreements last year, with LG having agreed to pay a $400 million fine for panels sold between 2001 and 2006. All tallied, the U.S. government will have garnered over $600 million in criminal fines from LCD price fixing.