HannStar admits LCD monitor price fixing

Taiwanese LCD screen maker HannStar Display has confessed to conspiring with its mates to fix the prices of LCD monitors.

The US Department of Justice said that the company had pleaded guilty to the charge and agreed to a pay a fine of $30 million for its participation in a global cartel that ran from September 2001 to January 2006.

The company said it would cooperate with the Department of Justice throughout the rest of the investigation and dob its mates in.

HannStar spokesperson Arthur Lu told Focus Taiwan: "After consulting with our lawyers, the company has decided to plead guilty, leaving the legal hassle behind. The company has assigned a provision of US $50 million to pay related litigation costs since 2009. We expect the US$30 million payment will not have any impact on operations."

So far HannStar and seven other panel makers have been ordered by the DoJ to pay fines totalling $930 million.