Hitachi also admits to LCD price fixing, will pay $31m fine
By Nilay Patel 
posted Mar 10th 2009 10:48PM
posted Mar 10th 2009 10:48PM
Funding that stimulus package just got ever-so-slightly easier -- Hitachi is the latest company to fess up to LCD price fixing, and as part of its deal with the US Department of Justice, it's paying a $31m fine. The company has specifically admitted to fixing the prices on panels sold to Dell from 2001 to 2004, and while no Hitachi execs are due to join their comrades from LG and Chungwha Picture Tubes just yet, we'd encourage them to book their vacations now, since the DOJ seems like it's staying on the warpath.
I'm afraid the true fine lays with consumers. I'm one who won't be buying from these criminal brands.
The production costs for LCD's the past few years has been cut drasticlty yet consumers aren't really seeing the price drop. It's obvious companies have been meeting and deciding to fix prices to a certain range so they can insure huge profits.
The production costs for LCD's the past few years has been cut drasticlty yet consumers aren't really seeing the price drop. It's obvious companies have been meeting and deciding to fix prices to a certain range so they can insure huge profits.
So will I get compensation?
That depends. Do you manufacture or resell condoms?
I love dell and hate to see them get cheated like this. As a business person this kind of thing should not be overlooked and I hope that people in charge of these decisions are penalized (not in these cooperate manners).
(as said it just transfers the fines onto consumers so... meh)
Even though this is really disappointing, at least they fessed up, unlike other companies, to be fair - I don't know the reasoning behind them admitting.
Very disappointing indeed.
So what happens with the fine money?
The lawyers will probably take 70% of it first.
So price fixing is illegal and people should serve time for it and protecting US jobs from going overseas and punishing companies that does it is acceptable? What hypocrites. If we allow anti competition, than price fixing should be legal. What about what happen to the US in the last year or so when the gas suppliers decided to raise gas prices for all of us while they're setting record profits...surely that is price fixing.
Yeah, but thanks to the war effort, the gas companies have the government by the balls. There is little they could do to regulate or force lower prices during that so called "gas crisis" the gas companies engineered. Their greed is a major part of the reason our economy was crippled and they should be shot not arrested.
I dont understand, what did Hitachi do wrong? They set a price on LCD screens? They are not the only ones that make LCDs. I dont get it. I cant set any price on a LCD screen I sell?